Bitcoin Surges to $10,400 in Move Correlated With Chinese Yuan: Digital Gold | Crypto Craft

  • Bitcoin Surges to $10,400 in Move Correlated With Chinese Yuan: Digital Gold

    From en.ethereumworldnews.com

    Bitcoin bulls are back — that’s right. In the past few hours, the cryptocurrency has been regaining its upward momentum once again, finally showing some bullish price action following the Friday close of the CME’s August BTC futures contracts. This move higher has brought Bitcoin to $10,400, which is some 12% higher than the $9,300 bottom seen last week. What’s weird about this move is that it correlated with price action in the Chinese Yuan-to-U.S. Dollar pair yet again, accentuating that Bitcoin is being influenced by macroeconomic narratives. As pointed out by analyst CL in a recent tweet, the two pairs ... (full story)

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TudorIoan
Sep 3, 2019 5:27am
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Quoting TMR
Its possible Chinese citizens are trying to circumvent capital controls from the Chinese government.
True. It's the HK trouble to be priced in those days.
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TMR
Sep 3, 2019 3:14am
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Its possible Chinese citizens are trying to circumvent capital controls from the Chinese government.
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