Bitcoin Traders Take Note: Happy Chinese New Year

While some in the institutional Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term community are focusing on the fact that Chinese miners control the majority of the bitcoin network, for traders it’s more important to remember that the absolute majority of the trading volumes also comes from China.

As the people of China go on a week long holiday for Chinese New Year (Spring Festival), a time of celebration and family gathering, trading will not be at the top of their priorities. Therefore, we should expect to see a drop in trading volumes, leading to less Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, something traders should keep in mind.

Additionally, if you are trading on a China based exchange, you should be prepared for the holiday schedule. OKCoin sent this message to its clients: “the Spring Festival is the most traditional and ceremonious one, and OKCoin hopes you have the opportunity to spend time with family and we wish that for our staff as well. Therefore, during the Spring Festival (Feb. 7th,2016 — Feb 13th, 2016), customer service availability has been adjusted.”

The specific changes for OKCoin International are: limiting chat and email support from 08:00-24:00 (UTC+8) China time, additionally USD deposits and withdraws will not be processed until February 15, 2016.

Have a profitable Year of the Monkey!