Donghyeon  Lee

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
thanks for the good observation. china owns btc after all
Donghyeon Lee kenzboard
We have to be careful on whales, though.
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