Analysis Crypto by Thebittimes.Com

China is spreading the de-dollarization agenda around the world and is pitching the Chinese yuan as the replacement currency for the US dollar. The de-dollarization initiative has become intense as the Communist country is on a world tour to spread the Chinese yuan. The Xi Jinping administration is convincing developing nations to cut ties with the US dollar and trade in the Chinese yuan instead. Also Read: De-Dollarization: 12 Countries Moving Away From the US Dollar Surprisingly, they have been successful in spreading the de-dollarization initiative to emerging economies. Countries like India, Russia, the UAE, Sri Lanka, Pakistan, the Philippines, Indonesia, Malaysia, Kenya, Nigeria, and other African countries have accepted the Chinese yuan for cross-border transactions sidelining the US dollar. Also Read: De-dollarization at Record Pace: 15% Decline in Dollar Share of Global Reserves Can the Chinese Yuan Uproot the US Dollar Through De-Dollarization? Source: iStock Analysts from le...

Although Bitcoin (BTC) has slightly corrected its recent gains, which saw it get closer to the $66,000 barrier, its breakout above $60,000 was no small feat, and the flagship decentralized finance (DeFi) asset might initiate a parabolic rally phase, thanks to its correlation with the Chinese Yuan (CNY). Specifically, Bitcoin has been building a strong bullish move since the August 5 bottom, and the reason might be the USDCNY pair reaching its top by forming lower highs and beginning to decline aggressively, according to the observations shared by markets analyst TradingShot in a TradingView post on September 30. How Bitcoin relates to Chinese Yuan As the pseudonymous trading expert further explained, history has shown that this is when Bitcoin “always initiates its Parabolic Rally phase” or, in other words, “when the Yuan gains strength, Bitcoin shines.” Furthermore, TradingShot noted just how strong the historical similarities are: ...

The currency wars are now intensifying as the US dollar surges against global markets, and their “moolahs” are now becoming a regular phenomenon. The US dollar has lately emerged as one of the strongest currencies, despite the massive negative outpour that the USD has been receiving as of late.  The American currency has lately been enjoying global attention, noting upticks in its valuation, fueled partly by the Federal Reserve’s stance on maintaining rates on a neutral threshold.  Also Read: The US Dollar Is As Strong As It Was In The 2000s The US Dollar Surges Against World Currencies Source: Pixabay In a recent update, the US dollar surge has gone global, competing with other world currencies and narratives. The new data metrics uploaded by analyst Michael A. Arouret depict a new story of USD outshining its contemporaries.  The new chart updated by Arouret echoes the unparalleled triumph of the USD . The chart projects the USD as one of the most...