Slipping Yuan May Be Good for Bitcoin Price, Past Data Suggests

Bitcoin traders should keep an eye on the ongoing slide in the yuan, analysts say.
That’s because, historically, the cryptocurrency looks to have put in a positive performance during bouts of weakness in the Chinese currency.
The yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September and taking its cumulative month-to-date and year-to-date losses to 1.4% and 2.85%, respectively.
Related: Number of Bitcoins on Crypto Exchanges Hits 18-Month Low
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