China was not the primary mover from $110 to $1242
It is evident that all the markets, including China, have been tied together to this day. Since its volume is 5x that of any other market, its is a reasonable guess that it is the elephant that is dragging the dog rather than the other way around.
Whoever is the leader, the reaction on the others is very quick. Perhaps one can tell who is the leader by looking at the minute-by-minute trade data.
(Methinks that it does not matter whether the Huobi volume is due to humans or robots. Manual day traders generally use "dumb" strategies that make them behave like robots, only slower ones.)
Much of chinas exchange volume was non-Chinese.
And much was fake
