NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Thanks to Chinese Yuan, Bitcoin Crosses $700 Once Again

Gautham
Gautham
1 year ago
2 mins read
Yuan Decline Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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.

coinmarketcap

The value of Bitcoin was hovering around the $640 mark until last week. In the past 7 days, the price has increased by over $60 which is close to 10% appreciation as Chinese yuan hit a six-year low against US dollar. The correlation between falling yuan and increasing Bitcoin price was reiterated by Jack Liu, chief strategy officer at OKCoin — a Hong Kong-based cryptocurrency exchange platform.  Liu was quoted by few media outlets saying,

“There is a premium in Bitcoin pricing in China as a hedge against the yuan.” According to his forecast, “[Bitcoin] strength is likely to carry into year-end.”

For a country with strict currency controls in place, Bitcoin is a welcome sight as investors can easily circumvent these regulations and invest in digital currencies. The value of Bitcoin is expected increase further, driven by unexpected events. Few industry experts believe that by the end of 2016, Bitcoin prices will cross $700 and stabilize. Even though the cryptocurrency is already trading at $704, there are chances of it dropping a few notches in the coming days.

The previous similar occurrence was witnessed following Brexit. The falling Pound Sterling briefly drove the value of Bitcoin beyond $700, only to come down after Bitfinex exchange platform got hacked.

Bitcoin has shown nothing but a promise of better future. We can expect it get better with each day.

Ref: Bloomberg |RT | CoinMarketCap | Image: ShutterStock

 

Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

A recent report has found that US President Donald Trump’s official memecoin, TRUMP, had a faster listing process on crypto...

Rubmar Garcia 3 hours ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Bitcoin surged to a new all-time high above $123,000 earlier today after crossing the $120,000 threshold late Sunday night. The...

Samuel Edyme 5 hours ago

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Bitcoin (BTC) surged to a new all-time high (ATH) of $123,218 earlier today, pushing its market cap beyond $2.4 trillion....

Ash Tiwari 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Vaļi ir atgriezušies mēmu monētās pēc Bitcoin jaunā visu laiku augstākā līmeņa – Telegram bots mēmu monētu meklēšanai

lasma 25 minutes ago
Ethereum Price Drops After Bullish Attempt

Ethereum Shorts Reach Record Levels, How To Stay Positioned For A Breakout

Scott Matherson 32 minutes ago
Bitcoin

Strategy Grabs Another $472M In Bitcoin—Even With Price At ATH

Keshav Verma 2 hours ago

Premium Sponsors

Press Releases

  • 3 alt coin dưới $1 có thể biến $200 thành $2...

    12 seconds ago
  • MEXC Announces T3RN (TRN) Launchpool Event with 190,000 TRN...

    3 minutes ago
  • Ez a három, 1 dollár alatti kriptovaluta akár milliókat...

    11 minutes ago
  • Tyto 3 kryptoměny pod 1 dolar mohou do roku 2027 proměnit 200 USD v miliony

    Tyto 3 kryptoměny pod 1 dolar mohou do roku 2027 proměnit...

    33 minutes ago
  • ARK Unveils the DeFAI Narrative: A New Chapter in On-Chain...

    38 minutes ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.