Odaily Planet Daily News Matrixport released today's chart saying that in 2015, after the RMB depreciated, Bitcoin was once sold off, but it rebounded strongly at the end of the year and closed higher for the whole year. We may see a similar scenario repeating at present, and this judgment echoes our bullish view on gold 18 months ago.
At present, the US dollar against RMB (USDCNY) exchange rate is expected to break through the key technical resistance level, which is highly similar to our original judgment that gold is "artificially suppressed and ready to go", or it may indicate that Bitcoin is about to usher in a rapid rise.
In addition, the correlation between USDCNY and the US 10-year Treasury yield is also worth paying attention to. Although the US Treasury yield has declined recently, if there is a rapid rebound, it may put some pressure on the upward momentum of Bitcoin in the short term.