Bitcoin Traders Take Note: Happy Chinese New Year
Posted: Sat Feb 06, 2016 10:04 am
While some in the institutional blockchain community are focusing on the fact that Chinese miners control the majority of the bitcoin network, for traders it’s more important to remember that the absolute majority of the trading volumes also comes from China.
As the people of China go on a week long holiday for Chinese New Year (Spring Festival), a time of celebration and family gathering, trading will not be at the top of their priorities. Therefore, we should expect to see a drop in trading volumes, leading to less liquidity, something traders should keep in mind.
Additionally, if you are trading ... (read more)