BTC/CNY: what to know
The BTC/CNY rate shows how much CNY you get for 1 BTC. Right now, 1 BTC buys 518,540.45 CNY at the mid-market rate. In the other direction, 1 CNY is worth 0.00000192849 BTC.
In the short term BTC is driven mainly by crypto-market sentiment and liquidity, while CNY responds to PBoC decisions and Chinese growth.
The supply is capped at 21 million coins. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
Over the past 12 months the BTC/CNY rate has ranged between 397,760.36 and 888,337.46 — a change of -34.37% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.