Bitcoin prices are trending upwards again during this weekend, and it looks like BTC China is gobbling up most of the Bitcoin Trading volume over the past 24 hours. Whereas we usually see either OKCoin or or Huobi in lead as far as Chinese exchanges are concerned, things seem to be turned on its head for a change. Is this the beginning of a slow but steady march back to US$250? We will soon find out.
BTC China Back In Charge After Major Platform Upgrades
It has been a while since we saw BTC China generate so much Bitcoin trading volume, as they are usually in third place on the BitcoinWisdom charts page. However, these past few days prove to be quite spectacular for what once was China’s biggest Bitcoin exchange platform, as they have nearly twice the trading volume of Coin, and almost three times Hubby’s volume.
Part of that success may have to do with BTC China becoming the “all-in-one Bitcon platform” for Chinese digital currency enthusiasts. Even though most people will know the name BTC China as “just” a Bitcoin exchange, their services have grown at an accelerated pace over the past few years, and the exchange is just one of the platform’s many facets these days.
Not only can you buy and sell Bitcoin in exchange for fiat currency via BTC China, but they also offer a Bitcoin wallet service, as well as Bitcoin mining possibilities. What may be the most impressive feat is the fact that BTC China also allows their customers to pay for goods with Bitcoin, directly through their own platform. The term “all-in-one Bitcoin platform” seems to be rather appropriate in that regard.
In regards to BTC China’s Bitcoin payment gateway, it’s a little known fact that this service works on a global scale, and is not just limited to China or Asia. In fact, Justpay – as BTC China’s Bitcoin payment gateway is called – is a powerful upgrade from Picasso Wallet, a powerful payment gateway built for business and personal use alike.
Justpay services two different purposes, as it allows consumers easy access to spending their Bitcoin on anything they want, as long as the merchant accepts bitcoin payments. Furthermore, merchants now have a far more easy and convenient solution to start accepting Bitcoin payments in the form of JustPay, and they have the option to have any Bitcoin transaction converted into fiat currency right away.
Note from the author : A more in-depth article on JustPay is coming to CryptoArticles over the next few days, you don’t want to miss it!
Needless to say, BTC China is positioning themselves to become , once again, China’s number 1 Bitcoin platform. Consumers and merchants have all the tools at their disposal inside the BTC China ecosystem, and they are definitely reaping the rewards so far. With the massive 116,000+ Bitcoin in trading volume today already (at 2PM GMT+1), you might want to keep on an eye on the BTC China platform over the next few weeks and months.
Bitcoin Price Rebounds To Nearly US$230
According to many analysts, Bitcoin is still in its “declining phase”, which all began to appear on the charts a few weeks ago. Despite a few uptrends to US$250, and at one point even back to US$300, prices have bottomed out at the US$220 mark once again over the past few days. By the looks of things, we are seeing a small uptrend occurring once again.
All major fiat currency markets are showing a small gain today, ranging from 1.92% (CAD) to 3.31% (USD). It has to be said that the EUR market is close behind the USD market in terms of percentages gained, and even though most of the action is still taking place across the Chinese exchanges, the CNY/BTC market growth only comes in third place, at +2.69%.
Whether or not this is a new stabilisation phase, or just a minor uptick which will be followed by another small dip is hard to predict at this point. We will see how these events unfold over the next 24-48 hours. But feel free to leave your price predictions in the comments below!