Introduction
Stay updated with real-time Bitcoin trading information through our community platform.
👉 Track live Bitcoin price movements
Current Market Status (GMT+8)
Timestamp: 2025/07/04 17:54
| Market | Opening (GMT+8) | Closing (GMT+8) | Status |
|---|---|---|---|
| Frankfurt, DE | 2024/08/12 14:00 | 2024/08/12 22:00 | Closed |
| London, UK | 2024/08/12 15:00 | 2024/08/12 23:00 | Closed |
| New York, US | 2024/08/12 20:00 | 2024/08/13 04:00 | Closed |
| Sydney, AU | 2024/08/13 06:00 | 2024/08/13 14:00 | Closed |
| Tokyo, JP | 2024/08/13 07:00 | 2024/08/13 15:00 | Closed |
About Bitcoin (BTC)
Bitcoin (abbreviated: BTC/XBT) is a decentralized digital currency launched on January 3, 2009, by the pseudonymous developer Satoshi Nakamoto.
Key Features:
- Decentralization: Operates without central authority via peer-to-peer technology.
- Fixed Supply: Capped at 21 million coins to prevent inflation.
- Direct Transactions: Uses cryptographic signatures for peer-to-peer transfers, bypassing intermediaries like banks.
Challenges:
- Transaction Fees: Fluctuating costs (e.g., fees exceeded $34 in Q4 2017 but dropped to ~$1 by 2018).
- Scalability: Small transactions (<1 mBTC) became impractical due to high fees.
About Chinese Yuan (CNY)
The Chinese Yuan (CNY/RMB) is the official currency of China, managed by the People’s Bank of China since its inception in 1948.
Key Facts:
- Design Evolution: Five series issued since 1948, featuring contributions from prominent artists.
- Offshore Trading: Traded as CNH overseas, with exchange rates determined independently of onshore markets.
👉 Learn more about currency conversion
FAQs
1. What affects Bitcoin’s exchange rate?
- Supply/demand, regulatory news, and macroeconomic trends.
2. How does CNY differ from CNH?
- CNY: Onshore currency with regulated rates.
- CNH: Offshore version with market-driven rates.
3. Why did Bitcoin transaction fees spike in 2017?
- Network congestion during high demand periods increased processing costs.
4. Is Bitcoin legal in China?
- While recognized as a virtual commodity, cryptocurrency trading faces restrictions.
5. Where can I track real-time BTC/CNY rates?
- Use our calculator tool for live updates.
Note: Data reflects real-time conditions; verify with trusted sources before trading.