11 Nov '13, 10am

Bitcoin exchange BTC China experiences all-time price high

Chinese bitcoin exchange BTC China hit its all-time high at the weekend, trading bitcoin at ¥1,978 each. The record surpasses the previous Chinese high of ¥1,944 back in April this year, which, although Western media generally quotes the Mt. Gox high of $265, was actually equivalent to approximately $308. It seems the Chinese are willing to pay premium prices for their bitcoins, as exemplified by this recent breakout, with reports that much of the recent surge in the value of bitcoin can be attributed to the enthusiasm of Chinese traders. The thirst of Chinese traders BTC China CEO Bobby Lee reports that his company is breaking records on a daily basis, crossing over into 90,000 in trade volume in one day, with their current spot price ¥2,942, 10% higher than the price on Bitstamp and 5% over Mt. Gox, which Lee says demonstrates how the thirst of Chinese traders is leading...

Full article: http://www.coindesk.com/bitcoin-exchange-btc-china-experi...

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