More Chinese Yuan Woes Paint A Positive Future For Bitcoin
The bigger question is how consumers and enterprises can protect against this volatility in the coming years. The Chinese Yuan has been a topic of multiple debates in the past few months. After months of deliberate devaluation, things are still looking very bleak for the future. In fact, it appears the pessimism surrounding this national currency is only growing worse every month. Such an uncertain future can push even more people to Bitcoin and cryptocurrency next year. China is not doing all that well in the financial department as of late. Further depreciation of the yuan is expected in....
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Rectifying this situation will not be an easy feat either. Further devaluing the Yuan seems the only plausible scenario, although it is impossible to predict the outcome. The recent Bitcoin price surge is mostly driven by Chinese traders. Increasing fear of capital outflows and the ongoing Yuan devaluation make Bitcoin a viable alternative investment opportunity. It is evident the Chinese government is running out of ideas to stabilize the economy. In fact, it appears the Yuan will continue to slide down a slippery slope. To be more precise, it seems the increasing Bitcoin demand hints at....
Over the past few days, there has been a growing demand for Bitcoin by Chinese investors. The Bitcoin price has surged because of this situation, and as more people start to see the value of cryptocurrency, this trend is likely to continue. The Chinese Yuan has seen its largest monthly decline since August of 2015, which comes on the heels of the Fed hinting at potential interest-rate increases. Additionally, this decrease was also caused by the PBOC cutting the fixing by 0.45%. Bitcoin, on the other hand, keeps gaining momentum while these woes haunt the financial ecosystem. Cutting the....
After years of rumors and leaks on Chinese social media, Shenzhen residents became the first in the country to trial the digital yuan. Distribution of funds took place via a lottery-style promotion with 50,000 “red packets,” each worth 200 yuan ($30), up for grabs. Chinese citizens living in Shenzhen registered their interest via the local […]
Popular digital currency exchange BTC-e announced today it would begin trading in Chinese 'offshore yuan' (CNH), becoming the first international bitcoin exchange to offer both US dollars and yuan, and opening a field of new opportunities for currency speculators. "We are pleased to inform that new trading instruments with Chinese offshore Yuan has been added. Now btc-e clients can trade 3 new instruments. A unique trading instruments that enables you to benefit either from price fall or increase are now available in your btc-e MetaTrader4 and WebTrader platforms under following symbols:....
If there was anyone left on this planet who thought there was nothing going on with the Chinese economy you might want to rethink that statement very soon. Over the past few months, the Chinese Yuan has been losing value, and things have taken a turn for the worse now that China suspended some foreign banks from FX trading. Capital outflows for the Chinese Yuan are getting out of hand, as investors are looking for a different safe haven. A country’s central bank does not often suspend [some] foreign exchange businesses of other foreign banks for an extended period of time. Every bank in....