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When you can hear the Bitcoin ice cracking - you know there’s a crisis coming.

By David Scott | Tuesday 31 May 2016


 


We got an indication of what the Chinese may do on Monday morning on the Yuan's morning fix, after Yellans bullish comments sent the markets rushing to update there forecasts on the date of the next US interest rate rise-I think July. Because on Saturday, unprecedented volume of bitcoin buying out of China, sent the digital currency soaring to the highest level since 2014, as insiders fled the Chinese currency and so to script on Monday the official exchange rate of the onshore Yuan was lower by nearly 0.5%, from 6.5490 to 6.5794, the lowest fixing in more than 5 years, or February 2011.


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