Published on May 19th, 2017 | by bitcoin0
Three must read stories about Asian market from Barron’s: Bitcoin soars; What’s up with the Yuan; Why China’s offshore M&A has cooled.
Bitcoin, in which trading volume is dominated by the Chinese, rose to around $1,875 overnight, with analysts ascribing the surge to investors seeking a hedge against political turmoil.
Other factors driving bitcoin’s price higher included increased demand from Japan and South Korea.
Both countries are set to open up trading to retail investors in the next few months, Kelly said.
Overall interest in bitcoin has risen in the last month as the future of the technology supporting the digital currency appears more stable.
China’s currency, the yuan, continues to be a hotly debated issue in global trade as to whether its undervalued or overvalued.