Find the Fundamental Problem with the Bitcoin Markets

1years ago (2017-02-10) admin BTC News 3617℃

China used to dominate global bitcoin trading, but not anymore. After a series of interventions by the Chinese central bank and self-imposed restrictions by Chinese exchange operators, the share of the global bitcoin trade denominated in yuan has plummeted from over 95% to about 20%.
The reason yuan volumes have dropped off a cliff is that the major exchanges ended ended the practice of allowing customers to place trades for free. Zero-fee trading has long been viewed as the culprit for China’s apparent dominance of the bitcoin markets.

Chinese exchanges typically let customers place trades for free, but charged for withdrawals. Critics have said this allowed them to project the appearance of robust volumes. But Chinese regulators wanted more “real volumes” reflected on exchange order books, the chief executive of one major exchange, BTCC, told trade publication CoinDesk, so the platforms started charging. The Chinese model was in contrast to platforms in the United States and elsewhere, which charge a fee for every trade.

The three biggest Chinese exchanges ended free trading around Jan. 22, and an almost immediate drop in yuan trading volume followed. Within the week the yuan’s share of global bitcoin trading was about on par with the dollar.

As the yuan volumes plunged, a new currency rose to take its place. Unexpectedly, it was the Japanese yen, which has rarely featured strongly in the bitcoin markets. At first glance, there appears to be a rebalancing of global bitcoin trading volumes, spread among the dollar, yen, and yuan.

But look closer and you’ll find the problem: Japan-based exchanges like Quoine and BitFlyer, which account for over 30% of the last month’s yen volumes, had zero-fee trading in place. In other words, it looks like Japanese platforms and their customers are now engaged in the same volume inflation their Chinese counterparts used to partake in.

For now, this doesn’t seem to have impacted the bitcoin price too negatively. It fell about 10% on news that Chinese exchanges were temporarily halting bitcoin withdrawals—another self-imposed measure—while they improved money laundering controls. It has since recovered slightly, and is still buoyant at around $970, which is still more than double its price 12 months ago.

Bitcoin traders may have hoped that the end of zero-fee trading in China would produce a clearer picture of the nascent cryptocurrency markets; we hope so.



By Joon Ian Wong



Follow Us Here Thanks !

Recommended Articles :

59 comment

  1. avatar

    Thank you for the good writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! However, how can we communicate?

    corburterilio at2017-04-01 00:10 Comment
  2. avatar

    My coder is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the expenses.
    But he’s tryiong none the less. I’ve been using Movable-type on a
    number of websites for about a year and am anxious about switching to
    another platform. I have heard fantastic things about
    Is there a way I can import all my wordpress content into it?
    Any kind of help would be greatly appreciated!

    manicure at2017-04-03 11:19 Comment
  3. avatar

    This post is worth everyone’s attention. How
    can I find out more?

    manicure at2017-04-07 20:33 Comment
  4. avatar

    I simply want to mention I am just very new to blogs and seriously liked this web site. Almost certainly I’m likely to bookmark your site . You amazingly have good article content. Thanks for sharing with us your website page.

    click here now at2017-04-16 22:52 Comment
  5. avatar

    Whats up are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and set up my own. Do you require any coding knowledge to make your own blog? Any help would be really appreciated!

    sandalwood oil at2017-04-22 20:47 Comment
  6. avatar

    Hi folks here, just became receptive to your writings through Google, and found that it’s quite interesting. I will take pleasure in should you decide continue such.

    pop over to this site at2017-04-23 04:45 Comment
  7. avatar

    The URL is needed to figure out the security zone, which is needed to ascertain the condition of the ActiveScripting setting. Completely ad-free, this website is quite easy to navigate and enables you to locate what you need fast. It’s a website that will permit you to really observe plenty of svg files created by very talented people at an affordable price. Everyone can join and add to the undertaking. This facility is known as SVG fonts.

    Granville Mutty at2017-04-23 04:54 Comment
  8. avatar

    It really is suitable opportunity to put together some plans for the future. I’ve read this blog entry and if I could, I wish to suggest you handful intriguing instruction.

    Get the facts at2017-04-23 07:22 Comment
  9. avatar

    I really desire to advise you that I am new to blog posting and absolutely admired your post. Probably I am inclined to save your blog post . You certainly have amazing article material. Truly Appreciate it for expressing with us your current web document

    straight from the source at2017-04-23 10:34 Comment
  10. avatar

    Noticeably absorbing points you’ll have remarked, thank you for setting up.

    Discover More Here at2017-04-23 10:58 Comment
  11. avatar

    I really want to inform you that I am new to writing a blog and extremely adored your page. Probably I am most likely to save your blog post . You certainly have fantastic article content. Love it for giving out with us your favorite internet webpage

    pop over to this website at2017-04-23 16:34 Comment
  12. avatar

    Everybody in our household is impressed that a mattress that got here in a roll with the air drew out of this can be such a wonderful mattress, yet this actually is actually.

    review brooklyn at2017-04-24 12:18 Comment
  13. avatar

    I am glad for writing to make you understand what a excellent encounter my friend’s child found studying yuor web blog. She mastered a lot of details, most notably how it is like to possess a wonderful giving mindset to make most people with ease learn a number of specialized subject areas. You truly surpassed people’s expected results. Thanks for churning out these invaluable, dependable, informative and cool guidance on the topic to Emily.

    travel advisor at2017-04-24 22:11 Comment
  14. avatar

    I am also commenting to let you understand of the helpful experience my cousin’s daughter encountered studying your webblog. She picked up too many things, which included what it is like to have an ideal helping style to have the rest completely know just exactly some complicated subject matter. You undoubtedly did more than visitors’ expected results. Thank you for distributing the precious, healthy, explanatory as well as fun tips on this topic to Mary.

    health department at2017-04-24 22:14 Comment
  15. avatar

    Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! By the way, how could we communicate?

    home at2017-04-24 22:15 Comment
  16. avatar

    Great tremendous things here. I am very satisfied to look your article. Thank you a lot and i am having a look ahead to contact you. Will you kindly drop me a mail?

    small business loans at2017-04-24 22:24 Comment
  17. avatar

    Heya here, just became mindful of your web page through Google, and have found that it is really educational. I’ll truly appreciate if you decide to carry on this approach.

    Our site at2017-04-25 01:16 Comment
  18. avatar

    Surprisingly significant resources that you have said, thanks a lot for setting up.

    This Site at2017-04-25 03:23 Comment
  19. avatar

    Wonderful paintings! This is the type of info that are meant to be shared around the web. Shame on the search engines for now not positioning this submit higher! Come on over and seek advice from my web site . Thanks =)

    Travel International at2017-04-25 20:06 Comment
  20. avatar

    I actually wanted to make a quick remark so as to thank you for those lovely recommendations you are sharing on this website. My long internet look up has at the end of the day been paid with awesome know-how to exchange with my great friends. I ‘d repeat that most of us visitors actually are undeniably lucky to dwell in a good community with many marvellous individuals with very helpful opinions. I feel really lucky to have encountered your weblog and look forward to some more exciting moments reading here. Thanks a lot once more for everything.

    Travel International at2017-04-25 22:55 Comment
  21. avatar

    You actually make it seem so easy with your presentation but I find this topic to be actually something which I think I would never understand. It seems too complicated and extremely broad for me. I’m looking forward for your next post, I will try to get the hang of it!

    Business Service at2017-04-26 04:18 Comment
  22. avatar

    I have actually even gone as well as laid on that because that is definitely wonderful. The different colors from this was actually specifically just what i got that had no flaws or stitching errors that i have observed. That is actually a great bedroom!

    10 best mattresses at2017-04-26 09:16 Comment
  23. avatar

    Howdy here, just started to be familiar with your blog page through The Big G, and found that it’s quite entertaining. I will like should you decide keep up this.

    official website at2017-04-26 10:32 Comment
  24. avatar

    Normally I do not learn post on blogs, however I would like to say that this write-up very pressured me to check out and do so! Your writing taste has been surprised me. Thank you, very nice article.

    Automotive at2017-04-26 12:44 Comment
  25. avatar

    Whats Going down i’m new to this, I stumbled upon this I’ve discovered It positively useful and it has aided me out loads. I am hoping to give a contribution & assist different users like its aided me. Good job.

    Arts & Entertainment at2017-04-26 15:11 Comment
  26. avatar

    We still cannot quite believe that We possibly could come to be some checking important points available your webblog. Our family i are sincerely thankful with your generosity and then for giving me possibility pursue our chosen profession path. Just right information Manged to get in your web-site.

    Tractor Workshop Manuals at2017-04-26 15:50 Comment
  27. avatar

    I gotta bookmark this website it seems invaluable invaluable

    Business Service at2017-04-26 16:14 Comment
  28. avatar

    It happens to be the best time to have some schemes for the possible future. I have read through this posting and if I would, I wish to recommend you handful appealing recommendations.

    click this site at2017-04-26 17:13 Comment
  29. avatar

    Valuable info. Fortunate me I found your web site unintentionally, and I am surprised why this coincidence didn’t took place earlier! I bookmarked it.

    Desktop Computer at2017-04-27 03:07 Comment
  30. avatar

    I’ve been absent for some time, but now I remember why I used to love this website. Thank you, I will try and check back more frequently. How frequently you update your web site?

    Automobile at2017-04-27 03:10 Comment
  31. avatar

    Good day here, just started to be familiar with your webpage through Bing, and found that it’s very good. I will like should you decide continue on this idea.

    click to investigate at2017-04-27 15:20 Comment
  32. avatar

    What i do not realize is in fact how you’re now not actually a lot more well-favored than you may be now. You are so intelligent. You recognize thus significantly when it comes to this topic, made me individually imagine it from a lot of varied angles. Its like women and men don’t seem to be fascinated except it¡¦s one thing to do with Girl gaga! Your personal stuffs excellent. At all times maintain it up!

    homeopathic medicine at2017-04-28 01:16 Comment
  33. avatar

    Hi, Neat post. There’s a problem together with your site in internet explorer, might test this¡K IE nonetheless is the market leader and a big portion of folks will pass over your excellent writing because of this problem.

    home improvement stores at2017-04-28 01:19 Comment
  34. avatar

    I like the helpful information you provide in your articles. I will bookmark your weblog and check again here regularly. I am quite certain I will learn lots of new stuff right here! Best of luck for the next!

    drywall repair at2017-04-28 01:23 Comment
  35. avatar

    Nice blog here! Also your site loads up fast! What host are you using? Can I get your affiliate link to your host? I wish my web site loaded up as quickly as yours lol

    island at2017-04-28 01:27 Comment
  36. avatar

    I do believe all of the concepts you have introduced for your post. They’re really convincing and will certainly work. Nonetheless, the posts are very quick for beginners. May you please prolong them a little from next time? Thank you for the post.

    Business at2017-04-28 03:45 Comment
  37. avatar

    Wow, fantastic weblog layout! How long have you been running a blog for? you make running a blog glance easy. The entire glance of your web site is great, let alone the content material!

    Business at2017-04-28 05:56 Comment
  38. avatar

    This is very interesting, You’re a very skilled blogger. I have joined your feed and look forward to seeking more of your great post. Also, I’ve shared your site in my social networks!

    Business at2017-04-28 06:33 Comment
  39. avatar

    The Best place for HTV, Glitter HTV and Cricut Blades!

    Alla Diller at2017-04-28 09:06 Comment
  40. avatar

    I wish to get across my appreciation for your kind-heartedness supporting those who must have guidance on this important issue. Your special commitment to passing the solution throughout was remarkably productive and have continually encouraged employees just like me to achieve their targets. Your own warm and friendly facts entails so much a person like me and substantially more to my office colleagues. With thanks; from all of us.

    Trucks at2017-04-28 10:46 Comment
  41. avatar

    hi!,I love your writing very so much! share we keep up a correspondence extra about your article on AOL? I require a specialist on this space to unravel my problem. Maybe that’s you! Having a look forward to see you.

    Computer & Technology at2017-04-28 11:02 Comment
  42. avatar

    You really make it appear so easy together with your presentation but I find this matter to be actually one thing that I feel I’d never understand. It kind of feels too complex and extremely vast for me. I am taking a look ahead for your subsequent submit, I¡¦ll attempt to get the cling of it!

    Car & Automotive at2017-04-28 11:37 Comment
  43. avatar

    Hi there, I discovered your blog by means of Google at the same time as looking for a similar matter, your website came up, it appears to be like great. I have bookmarked it in my google bookmarks.

    Dating & Relationship at2017-04-28 14:00 Comment
  44. avatar

    Great post and straight to the point. I don’t know if this is actually the best place to ask but do you folks have any thoughts on where to hire some professional writers? Thank you :)

    Car & Automotive at2017-04-28 14:39 Comment
  45. avatar

    I think other web-site proprietors should take this website as an model, very clean and magnificent user friendly style and design, as well as the content. You’re an expert in this topic!

    Used Trucks For Sale at2017-04-28 16:07 Comment
  46. avatar

    Various other testimonials state the sides are actually steep downward and also holds true. Our experts have not possessed any sort of concerns with rolling off consequently.

    top 10 mattress companies at2017-04-28 16:13 Comment
  47. avatar

    fantastic issues altogether, you simply received a brand new reader. What could you suggest about your post that you just made some days in the past? Any certain?

    Limo Service at2017-04-28 19:38 Comment
  48. avatar

    Thank you for all your hard work on this web page. My niece delights in making time for investigations and it’s really easy to understand why. Many of us notice all regarding the powerful form you create advantageous tactics on this web site and in addition attract participation from website visitors on the concept plus my simple princess is actually discovering a lot of things. Enjoy the remaining portion of the new year. Your conducting a really great job.

    Spare Parts at2017-04-29 00:33 Comment
  49. avatar

    It happens to be convenient day to prepare some options for the future. I’ve study this posting and if I may possibly, I want to suggest to you you very few helpful recommendation.

    seo portland at2017-04-29 05:43 Comment
  50. avatar

    Usually I do not read post on blogs, but I wish to say that this write-up very compelled me to take a look at and do so! Your writing style has been surprised me. Thanks, quite nice article.

    Truck Repair at2017-04-30 09:56 Comment
  51. avatar

    I am extremely impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it is rare to see a nice blog like this one these days..

    Autos Europe at2017-04-30 21:22 Comment
  52. avatar

    Heya i am for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and help others like you aided me.

    Business Wealth Management Firms at2017-04-30 21:36 Comment
  53. avatar

    I bought this bedroom for my child (identical twin measurements) she still possessed a little one bedroom and also I desired to receive her something that I knew was going to last.

    check at2017-05-01 01:12 Comment
  54. avatar

    My wife and i ended up being cheerful when Albert managed to carry out his basic research from the precious recommendations he was given when using the site. It is now and again perplexing to simply always be freely giving thoughts that many the others could have been making money from. And now we keep in mind we have the writer to be grateful to because of that. All the explanations you’ve made, the easy web site navigation, the friendships you make it easier to instill – it is many impressive, and it’s really leading our son and us feel that that idea is cool, and that is pretty pressing. Thank you for all!

    Top Professional Careers at2017-05-01 04:19 Comment
  55. avatar

    whoah this blog is fantastic i really like reading your articles. Keep up the great work! You recognize, a lot of people are looking round for this info, you can help them greatly.

    Entertainment News at2017-05-01 04:36 Comment
  56. avatar

    I will right away snatch your rss as I can not to find your e-mail subscription hyperlink or newsletter service. Do you’ve any? Kindly permit me realize so that I may subscribe. Thanks.

    Marriage Life at2017-05-01 04:43 Comment
  57. avatar

    Hey There. I found your blog using msn. This is an extremely well written article. I will make sure to bookmark it and return to read more of your useful info. Thanks for the post. I will certainly comeback.

    Exploration Careers Information at2017-05-01 08:06 Comment