Thanks to Chinese Yuan, Bitcoin Crosses $700 Once Again

The falling Chinese yuan has yet again led to a rise in the demand for Bitcoin among Chinese investors. Read more…
Bitcoin price has picked up yet again. The price of the popular digital currency has crossed the $700 mark. Like always, even this time the increase in price is driven by rising demand among the Chinese investors.
The latest developments in Bitcoin ecosystem is being closely watched not just by the cryptocurrency community, but also mainstream media and conventional financial institutions. Various leading news media outlets are reporting the surge in digital currency price, which is at its best since June 2016. According to reports, the depreciation of Chinese currency has turned investors to Bitcoin as a measure to protect their money from falling yuan.

This post was published at NewsBTC on October 29th, 2016.