China Corners the Market on Bitcoin

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It’s been less than 11 months since bitcoin powerhouse Mt.Gox exchange closed doors and vanished with over $470 million dollars owed creditors. It took the bitcoin market mere months to bottom out from the subsequent downward price pressure – and to rebound in a healthier state.

You couldn’t say the same for U.S. Government supported American corporate criminals a.k.a. “banks”. Chalk one up for transparent $BTC. Chalk another one up for deregulation.

Two Year All Exchanges All Currencies Market Share

2year-all-currencies-all-exchangesData as of December 04 2014 from bitcoinity.org (sponsored by @OKCoinBTC)
http://data.bitcoinity.org/markets/volume/2y?c=e&t=a&volume_unit=btc

Looking at the two year chart – @OKCoinBTC it would be useful to have a 12 month chart available – there are surprising faces. Sort the list by two year volume leaders and this is how it pans out:

Two Year Bitcoin Market Leaders

  1. Mt. Gox
  2. @Huobicom
  3. @BTCChina
  4. @OKCoinBTC
  5. @bitstamp
  6. @btcecom
  7. @bitfinex
  8. @LakeBTC
  9. @ANXBTC

Interesting. Because when you compare this with the November 2014 numbers – also find them in “30 Day Bitcoin Volume & News Report as of November 29 2014” (another fine @AllCoinsNews article) – the emergence of new strong players is clear:

Thirty Day Bitcoin Market Leaders

  1. @OKCoinBTC
  2. @BTCChina
  3. @Huobicom
  4. @Bitfinex
  5. @LakeBTC
  6. @bitstamp
  7. @btcecom
  8. @ANXBTC

A similar list is found on the six month chart.

Six Month Bitcoin Market Leaders

6-month-chart-all-currencieshttp://data.bitcoinity.org/markets/volume/6m?c=e&t=a&volume_unit=btc

What Does It Mean?
The market leaders we saw in a 30 day November period are substantially the same as the market leaders in the half year snapshot. Yes there’s some flux, but the overall picture is mirrored. The report you read for November is precisely what the 6 month picture is. We see a definitive consolidation of new market leaders.

We see the emergence of @OKCoinBTC @BTCChina @huobicom @Bitfinex and @LakeBTC as the apparent and main beneficiaries of the Mt.Gox meltdown.

@Bitstamp Loses a Notch
From the 2 year snapshot @bitstamp has actually lost a notch, dropping from 5 into rank 6 on both the 6 month and 30 day reports. Time for a reassessment of performance? The author truly enjoys the clean presentable @bitstamp website perhaps more than others, but it’s a business and the numbers don’t jive with what should have happened. With the only major bitcoin exchange in the bastion of the empire – the United Kingdom empire that is – not to mention the backing of some of the most influential
cryptocurrency investment influencers in California, there’s a good chance this can be turned around.

It’s All About China
The heading for this paragraph may not be popular with mainstream Western press, or those who feel Americana and or $BTCUSD is the only way (New York state, take one more valium) but these are the stark facts:

Five Year Chinese Yuan Market Leaders
5-year-chart-chinese-yuanhttp://data.bitcoinity.org/markets/volume/5y/CNY?c=e&r=week&t=a&volume_unit=btc

The American dollar is fractional and insignificant compared to the millions of $BTC traded in Chinese yuan by Chinese backed firms located primarily within China. Get used to seeing the yuan, it’s in your
future:

Chinese Yuan
chinese-yuan-from-pixabaydotcom
Chinese yuan. (Free high quality images you can use anywhere – Pixabay.com)

Phoenix of Chinese Bitcoin Exchanges Has Arisen
With the ashes of Mt.Gox the phoenix of Chinese bitcoin exchanges has arisen. China has cornered the market on bitcoin.

Catnip is intoxicating
tipjar
$btc: 1N1sCpb2HXLe4ZKim5yMruHQc6kyBN6uAW