Between 6am and 7am Chinese investors are leaving the stock market for bitcoin markets, with over 90% of bitcoin trading involving Chinese yuan in Less than two years ago , up 60% YoY , according to Bitcoinity . Bitcoinity ’s one biggest exchanges, Huobi and OKCoin , account for over 90% of global trading, and the country’s Bitcoinity frenzy is said to resemble the last stock market rally, with a potential negative impact on bitcoin markets if mainland regulators target Chinese exchanges. The ability to move money abroad, an absence of transaction fees, the potential for high returns, and the nation's fondness for gambling are said to be factors contributing to bitcoin 's popularity as an investment.
Chinese investors are leaving the stock market for bitcoin markets, with over 90% of bitcoin trading involving Chinese yuan in Less than two years ago , up 60% YoY , according to Bitcoinity . Bitcoinity ’s one biggest exchanges, Huobi and OKCoin , account for over 90% of global trading, and the country’s Bitcoinity frenzy is said to resemble the last stock market rally, with a potential negative impact on bitcoin markets if mainland regulators target Chinese exchanges. The ability to move money abroad, an absence of transaction fees, the potential for high returns, and the nation's fondness for gambling are said to be factors contributing to bitcoin 's popularity as an investment.