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.
kenzboard
2 years ago
thanks for the good observation. china owns btc after all
Reply
Donghyeon Lee kenzboard
2 years ago
We have to be careful on whales, though.
Reply
Xman
2 years ago
wise man
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out