Aug 06, 2019 at 12:28
News
US-China Trade War Leads Bitcoin Price to Trade Over $12,000
The world’s top cryptocurrency by market capitalization, Bitcoin (BTC), has once more managed to hit and exceed the $12,000 price level after around 3 to 4 weeks trading below that mark. The surge comes after a huge devaluation of China’s fiat currency yuan which touched the bottom level against the United States dollar (USD) since exactly nine years ago. The event is one part of the US-China trade war.
Aug 24, 2018 at 09:18
News
$87 Million Hack is Under Investigation by Police
Criminals have recently been very cautious in conducting their illegal activity, as the number of cases solved by police has increased. For example, officials have caught three suspects of a large cryptocurrency theft in China. They stole almost 600 million Yuan ($87 mln) in virtual coins.
Feb 15, 2017 at 12:13
News
China Undergoes Massive Forex Reserves Loss, Pushes Bitcoin Higher
China is losing a good portion of its forex Reserves in, what is considered to be by many people, an attempt to raise the value of the Chinese Yuan. China, which got hit by hard monetary issues through most of 2016, still continues to struggle to completely offset its economic woes.
Oct 13, 2016 at 10:55
Price
Bitcoin Price Rises As Chinese Yuan Hits Six-Year Low
The Chinese Yuan has fallen to its lowest level in six years, forcing investors within the economy to move their money overseas. Bitcoin appears to have been a convenient method of transfer of value as speculators have also taken advantage of the prevailing demand for the cryptocurrency. This, according to experts, has given rise to the current surge in the price of Bitcoin.