China, with its high rate of economic growth, plays an important role in the Bitcoin space. And in light of the findings of a recent report by Goldman Sachs, a huge influence in this country becomes apparent. The report shows that almost 80% of Bitcoin trading volume over the last six months have on the yuan. Surprisingly, only 19% of exchange passed on the US dollar and 1% Euro.
The fascination with bitcoin in China continues to grow, despite the fact that the people's Bank of China (PBOC), the country's Central Bank banned Bitcoin transactions at banks, retailers and payment operators, including Alipay and Tencent.