Bitcoin Rally May Be Bolstered by Chinese Yuan Devaluation, Claims Analysts

Over the past couple of days Bitcoin (BTC) has incurred a significant influx of buying pressure that has sent its price skyrocketing towards the upper-$11,000 region, which has proven to be a slight level of resistance for the cryptocurrency.
Despite facing some resistance, the current rally may be significantly bolstered by China’s possible devaluation of the Yuan, which has led to an outflow from the fiat currency and – as some analysts believe – into Bitcoin.
Bitcoin Surges