Bitcoin is $ 600 cheaper in China than the rest of the world according to the current data. A BTC in major Chinese currency exchanges is being traded at about $ 3,000, as opposed to the current market price that is at around $ 3,650.
However, OKCoin and Huobi, the two largest Chinese brokerage firms, continue to handle some significant volumes of bitcoin.
With their trading volumes totaled US $ 170 million, the volume of Btifinex, currently the largest bitcoins exchange, with a volume of US $ 148 million.
This considerable drop in trading volumes was due to the news of the ICO ban and the closing of the Chinese brokerage firms. Clearly suggesting that some investors leave the market.
But trading volumes are usually low over the weekends, which can also be a contributing factor. Therefore, we will have to wait and observe its development in the coming days.
Temporarily, the situation seems to have calmed down a bit with some lateral moves in a global market base of only $ 120 billion, as the market seems to consolidate before deciding its direction in the medium term.
However, OKCoin and Huobi, the two largest Chinese brokerage firms, continue to handle some significant volumes of bitcoin.
With their trading volumes totaled US $ 170 million, the volume of Btifinex, currently the largest bitcoins exchange, with a volume of US $ 148 million.
This considerable drop in trading volumes was due to the news of the ICO ban and the closing of the Chinese brokerage firms. Clearly suggesting that some investors leave the market.
But trading volumes are usually low over the weekends, which can also be a contributing factor. Therefore, we will have to wait and observe its development in the coming days.
Temporarily, the situation seems to have calmed down a bit with some lateral moves in a global market base of only $ 120 billion, as the market seems to consolidate before deciding its direction in the medium term.