US-China Trade War Fuels Bitcoin Interest Amid Yuan Devaluation
- Bitcoin price rebounded from $74,400 to over $80,000.
- Arthur Hayes suggests Chinese yuan devaluation could drive investment into Bitcoin.
- The US plans to increase tariffs on Chinese imports to a total of 104%.
- The United States imports approximately $439 billion worth of goods from China annually.
- Bitcoin trading volumes surged by 85% to more than $86 billion daily.
Amid the US-China trade tensions, Bitcoin’s price has risen above $80,000 as Arthur Hayes highlights potential Chinese investment due to yuan devaluation. The US is set to increase tariffs on Chinese goods significantly.
Source (2.6)https://coingape.com/arthur-hayes-bets-big-on-chinese-money-coming-to-bitcoin/?rand=24432
