By CCN: Bitcoin price is unlikely to hit the December 2017 highs unless the U.S.-China trade war escalates to new levels, an analyst has told Kitco News. According to DailyFX’s senior currency strategist Christopher Vecchio, bitcoin has lately been inversely correlated with the Chinese yuan. Being an effective method of moving value around the world, its price appreciated as the yuan weakened: In an environment where the global financial system looks like it is potentially at risk because of the world’s two largest economies going at odds, people may be looking for alternative avenues to find ways to circumvent
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