The sharp rise in bitcoin last weekend may not be due to Chinese investors

The sharp rise in bitcoin last weekend may not be due to Chinese investors

2019/10/31

The Block studied data on the rise of Bitcoin from $7,500 to $10,000 on Fridays and Saturdays, arguing that this price volatility is most likely not caused by Chinese investors.

The block is based on analysis of transaction data within the global global mainstream cryptocurrency spot exchanges and futures exchanges at this stage.It is found that large orders with long positions in BitMEX and other futures exchanges take precedence over large orders in spot exchanges.So this also means that the price increase this time is likely to be triggered by futures investors.In addition, through the analysis of the trading volume data of exchanges in different countries and regions,The Block also found that US and European exchanges generated huge volume growth.This may mean that this price increase is not triggered by Chinese investors, but more likely by overseas speculators.1572484966(1).png


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