RE: Big Crypto Update: BTC Is Following Chinese Yuan (Also, BSV, XMR, LTC)

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Big Crypto Update: BTC Is Following Chinese Yuan (Also, BSV, XMR, LTC)

in steemleo •  5 years ago 

The yuan surpassed the crucial level, how does is it affect the bitcoin course?

steemleo
5 years ago by

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      ·  5 years ago 

    my speculation is that the more the yuan weakens, the more rich Chinese people are trying to find better alternatives and those are likely gold and Bitcoin. Obviously it is not a 100% correlation, but it is likely significant. The $7 level is the highest ever for the chinese overseas yuan.

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        ·  5 years ago 

      very good guess, think you're right! Thanks!

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