What's behind this rally on Bitcoin? Currency Fears Drive Chinese Into Bitcoin

The trade war talks has become a common thing on the news over the last year or so, the tensions don't seems to cool down in fact quite the opposite. As I've said before trade wars usually end on real wars and as we can see things are quite hot this days.

In order to keep up to Trump tariffs China has been injecting 83$ billions on the market, Cryptocurrency industry veterans say Chinese investors are trying to exchange the yuan for other assets, like dollars and bitcoin, because they think the yuan will continue to drop. As President Trump has raised tariffs over the past two weeks, the yuan has fallen 2% versus the dollar. Some fear President Xi Jinping will devalue the currency significantly to keep Chinese goods price-competitive for U.S. buyers despite tariffs.

“The news is clear - the economy needs help,” said Trinh Nguyen, senior economist for emerging Asia at Natixis in Hong Kong.

We are also seeing China and Russia joining forces on many levels not only economically but military too, examples are China threatening to impose tariffs on metals, trade oil with their currencies ditching the dollar away and even make a cryptocurrency backed by gold.

It's only getting worse everyday basically everywhere Italy is on the same spot, but worse since they are deep in debt they started to roll up a new currency and printing it more in order to keep up with the "bills" they also made taxable any gold people have on the bank on vaults basically it's bad for their Fiat but great for BTC.

This is just one of the many factors BTC and gold are on the rise recently, as I explained on my previous post where the money is coming from on this BTC bullrun there are many factors but the leading surge of the prices are coming from institutions mainly that are looking for a safe haven. Central banks are filling up on gold and there are even talks about making a central bank for cryptocurrencies which would be a joke but that shows the level we are in yet the average Joe have no clue whatsoever.

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