Bitcoin China Price Analysis
Bitcoin China and the Price
Bitcoin China is a significant market. It is arguably the most important market.
Most bitcoin trading volume is done in Chinese Yuan. Further, a large proportion of the mining is also in China.
iceCUBEDX is a key exchange player in Africa. We keep track of our counterparts in other key markets.
— Bitcoin Magazine (@BitcoinMagazine) June 24, 2016
All are heavily linked in global finance. This is especially true for Bitcoin. Trading and the network never sleep. We keep our clients informed of all the important news, from around the globe.
Bitcoin China Exchange CEO Speaks
When the CEO of one of the oldest, and most respected, Chinese exchanges speaks, the Bitcoin world takes note. Due to language and cultural barriers it is difficult to get reliable information about the China market.
Bobby Lee, CEO of BTCC, is a reliable source. He is a well informed communication bridge between bitcoin communities in the West and East.
He speaks Mandarin and English fluently. He lives in China and runs one of the most respected exchanges there. But he is also Western educated. He understands each culture very well.
In a recent interview with Bitcoin Magazine, Lee dispelled a few myths which were becoming prevalent. According to Lee, capital controls in China were NOT a key factor in Bitcoins recent price surge.
This is something he made clear in a recent speech at Stanford University. In Lee’s experience, in no uncertain terms, capital controls have no effect on the price of Bitcoin in China.
The Chinese Central Bank (PBOC) is notoriously secretive. Their stance on Bitcoin is often a point of speculation. This is especially true for the Bitcoin market outside of China.
In his Stanford speech Lee is quick to play down any tangible or immediate threat to bitcoins development from the PBOC.
Bitcoin China and the Future
Other interesting positions to note are that Bobby Lee sees the growing Altcoin landscape as healthy. But is quite certain that Bitcoin will remain the leading, key digital currency going forward.
Overall he is bullish on Bitcoin and its own block chain well into the future.