RATE Group | BTC Enjoys a Boost from USD/CNH Price Climb
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BTC Enjoys a Boost from USD/CNH Price Climb

08 Aug BTC Enjoys a Boost from USD/CNH Price Climb

Posted at 11:26h in Bitcoin News by

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Bitcoin Price Outlook:

  • Bitcoin has surged 20% since the July 31 FOMC meeting and boasts a 205% gain in the year-to-date
  • BTCUSD and other cryptocurrencies can share an inverse correlation with emerging market currencies as investors look for an alternative store of value apart from their local currency
  • Check out the DailyFX Podcast with guest Tone Vays for Bitcoin and Libra predictions. Mr. Vays specializes in Bitcoin and blockchain and was a vice president at JP Morgan Chase in the aftermath of the 2008 crisis

Bitcoin Price Forecast: BTC Enjoys a Boost from USD/CNH Price Climb

Bitcoin has bounced 20% since July’s FOMC meeting, which gave rise to an initial jolt of market volatility. The next day, President Trump unexpectedly announced a new tranche of tariffs on China which sparked considerable volatility across the financial world. One area that has been of particular importance – USD/CNH – traded above 7.00 for the first time in the history of the offshore market. In allowing…

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