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There is question as to whether this is even real, or just Willybotted up. This article is from March, but it hasn't stopped: http://www.bitcoinfuturesguide.com

There is question as to whether this is even real, or just Willybotted up. This article is from March, but it hasn't stopped: http://www.bitcoinfuturesguide.com/bitcoin-blog/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume http://www.bitcoinfuturesguide.com/bitcoin-blog/reminder-chi... What happens if you try to cash in at these prices? There's no actual demand, so the price flash-crashes: http://qntra.net/2016/06/mere-265-bitcoin-sell-causes-flashcrash-at-coinbase-chronically-thin-orderbook-to-blame/ http://qntra.net/2016/06/mere-265-bitcoin-sell-causes-flashc...

dwaltrip 10y ago
OKcoin is not the only exchange... Yes, you can't trust many of the Chinese exchanges. But there are 10s of thousands of bitcoins being traded daily on many different (non-Chinese) exchanges that don't fake their volume. Coinbase, Bitstamp, and Kraken, three of the more reputable USD exchanges, have had a combined volume of over 30k BTC alone in the past 24 hours. http://bitcoinity.org/markets/list?currency=USD&span=24h http://bitcoinity.org/markets/list?currency=USD&span=24h.
bencxr 10y ago
it wouldn't be a flash crash if there was no demand. it would be a crash. the flash crash happened because there was insufficient liquidity on one exchange - as soon as the market sought to fill the gaps, it went right back up.