New analysis shows that as the Chinese yuan continues to flounder, Bitcoin is moving in the opposite direction, suggesting that the flagship cryptocurrency is being used as a hedge against the devaluation of China’s national currency, the renminbi, which is one of the world’s major reserve currencies. Bitcoin is exhibiting a strong inverse relationship to […]The post Bloomberg: Analysis Suggests Bitcoin Emerging As Hedge As China’s Yuan Continues to Weaken appeared first on The Daily Hodl.
