Donghyeon  Lee
Long

Bitcoin Price v. Shanghai Index

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
Nice to meet you, Though I observed here for a while, it is my first post.

In 2014 autumn, one member posted comparison between Shanghai Index and Bitcoin             price. (See Link)
At that time, the author suggested that, Chinese investors will be less attracted to bitcoin             because they have more profitable market, or Chinese Stock Market. According to recent data, it seems to be right forecast at least until mid of April             , when Chinese Stock Market has been totally bullish while bitcoin             bearish .

However, from late April             , trend slightly has changed; growth of the stock slowed and even reversed for a week, and bitcoin             price escaped local low of 1320 CNY             and now heading 1550 CNY             . If Chinese investors find that the stock is distinctly less profitable, I believe that modest bounce of bitcoin             price to ~1700 CNY             until late May is not only possible, but also plausible. Yet, impact of slowed stock market growth will be limited, for usual investor prefer gold             and other 'safe' asset.
wise man
Reply
thanks for the good observation. china owns btc after all
Reply
Donghyeon Lee kenzboard
We have to be careful on whales, though.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out