China’s Constant Bubbles Drive Investors to Bitcoin in DrovesInvestors in China are bouncing from one asset to the next hoping to maximize returns, which is nothing uncommon for Chinese investors. This time, however, growing chinese investorsconcerns about ongoing devaluation of the Chinese yuan has led investors to pick up bitcoin, and the next time the yuan is weakened, or another bubble pops, the bitcoin bull run could reach a record level.
There’s already been considerable movement this year. Since the end of 2015, bitcoin’s value in yuan has increased 50 percent to approximately 4,300 yuan, or $642 USD, from a level of roughly 2,800 yuan.
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https://news.bitcoin.com/china-bubbles-drive-investors-bitcoin/
