Unexpected Yuan Gains Affect Global Markets And Bitcoin PriceFor the first time in months, the Chinese Yuan has noted significant gains. Currency markets responded negatively to this news, as the dollar sank a bit. Moreover, this news seems to indicate financial experts got their 2017 Yuan prediction entirely wrong. Chinese traders are also driving the Bitcoin price right now, although that may not be related to the Yuan value increase.
http://www.newsbtc.com/2017/01/05/unexpected-yuan-gains-affect-global-markets-bitcoin-price/ If the Bitcoin price takes a hit in China, there is no way the rest of the world is going to be in a different. Some kind of pullback was necessary, given the mad increase we have seen in the last 1 month.
