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Bitcoin Surges 20% In A Week As Chinese Volumes Hit Record High

By Ilene
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Courtesy of Zero Hedge

The last 5 days have seen Bitcoin prices (in dollars) soar over 18% and over 20% in Yuan as volumes on Chinese exchanges continues to build, seemingly anticipating notable Yuan devaluation (confirmed by various derivative bets being placed on the Chinese currency) and/or further capital controls looming as yet another hot money Chinese bubble explodes in commodity-land.

Is another major Yuan devaluation looming?

Last week saw the heaviest Bitcoin trading ever on Chinese exchanges…

Source: BitcoinWisdom.com

Notably, gold was well bid overnight also…

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