This is not a new paradigm. The entire run up in BTC during the 2016 melt up started when there was significant capital flight out of China. Do you remember that?
CASHIN: "There's even speculation that Bitcoin's big weekend rally might be Chinese citizens trying to get money out of the country."@CNBC
— Carl Quintanilla (@carlquintanilla) May 13, 2019
It should come as no surprise to see the Yuan weaken against the dollar.
Bear in mind, during market pullbacks, all of the worst news and rumors come to surface. Most of it is bullshit and the chances of Bitcoin supplanting the dollar are exactly zero. But even during the Oct-Jan 2018 market rout that so many of you were mocking last week and the week prior — that shit lasted 3 months. Are you prepared for an extended move lower and possible retest of those lows?
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