Bitcoin Blooms with Chinese Buyers as Yuan Sinks
Posted: Fri Oct 14, 2016 5:26 am
Bitcoin price has seen sailing good winds lately, spiking early on October 11 from recent averages of $610-$615 to $630. Prices have seen support since, with a high of $649 on the Bitstamp Price Index, a number that hasn’t been scaled since the end of July.
Bitcoin’s rise coincides with the continued fall of the Chinese fiat yuan, sinking to its lowest levels in six years this Monday.