For some unknown reason, China has been the biggest Bitcoin marketplace for many years now, despite the People’s Bank of China warning merchants not to deal with digital currency payments, for the time being. Many enthusiasts have always wondered why China remained the biggest Bitcoin trading market, despite there hardly being any use for spending Bitcoin. We now have an answer to that question, as China sees Bitcoin how most other people see it as well: an investment vehicle with tremendous potential for daytrading profits.
Taking A Gamble on the Bitcoin Price in China
Daytrading activities are nothing new in the world of Bitcoin and digital currency, as the speculative aspect of this new currency is omnipresent. While Bitcoin is often criticized for its price volatility, most investors are more than happy to ride the Bitcoin price swings to make a small or large amount of money every day.
Keeping in mind that Chinese exchanges are representing over half of the entire world’s Bitcoin trading volume every day, there is a lot of gambling taking place. Not gambling in the traditional sense, but more in terms of Chinese investors taking a gamble on the Bitcoin price