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September 21, 2020
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Correlation with “Renminance fall and Bitcoin rise” Virtual currency is a convenient way to escape assets

Correlation between Bitcoin and Renminbi U.S.-China conflict has sharpened against the backdrop of issues regarding the origin and responsibility of the new coronavirus and the problem that China is aiming to enact a new law to strengthen control in Hong Kong. .. Amid growing concern over the US-China conflict, the correlation between Bitcoin (BTC) and China’s legal currency “CNY” has become a hot topic. This correlation is that the price of BTC rises when the value of CNY decreases, and is based on the data of price movements from 2015 to 2016. Looking at the chart below, which shows the relationship between the US dollar and CNY and the BTC price, the BTC …

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