- Bitcoin against the U.S.Dollar soared to a new all-time high, driven by Japanese purchases.- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.- Read DailyFX latest trading guides for of the Japanese Yen in the second quarter.To receive reports from this analyst,.Bitcoin against the U.S.Dollar set a new all-time high on Tuesday, touching 1481.73.This is mostly driven by the increasing demand in Japan according to bitcoinity.After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world has from more than 90% previously.Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel.Traders will want to be aware of a likely retracement around this level.The offshore Yuan against the Japanese Yen also approaches to a major resistance level.

In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.In the coming session, China will release the Caixin PMI prints for April.If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has been falling for the second week, measured by the SDR Yuan Index.bitcoin waren kaufenIn specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.bitcoin foundation mexicoData downloaded from Bloomberg; chart prepared by Renee Mu.bitcoin seller in nepal

Sina News: China’s most important online media source, similar to CNN in the US.They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.Chinese steel producers showed improved performance in the first quarter.33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months.The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.ethereum maker market- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production.bitcoin mining by the ghThe annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity.bitcoin hourly rate

Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.As Bitcoin and Ethereum – the engines driving the recent cryptocurrency surge – neared new all-time price highs, the overall market capitalization crossed the $100 billion mark.Bitcoin was trading just short of the $3,000 mark, while Ethereum touched a high of $256.For the first time, cryptocurrencies together crossed $100 billion in market capitalization.The year has witnessed a lot of movement in the virtual currency space, primarily led by a string of positive news and sentiment around Bitcoin and Ethereum.This resulted in a multiplier effect for most cryptocurrencies. Bitcoin continues to dominate the market and alone accounts for 46% of it given its market capitalization is a little over $46 billion.The virtual currency has tripled in value from around $950 in the beginning of 2017, to a price hovering around $2900.This rise hasn't been without volatility.Bitcoin prices took a hit, dropping to $900 levels from $1300, when the SEC disapproved of the Bitcoin ETF promoted by Cameron and Tyler Winklevoss.

It eventually recovered on a positive statement by SEC about the future course.Further, the growing recognition of Bitcoin as a legal mode of payment and the evolving positions of regulators in certain countries have been major drivers of its movement during the year.Japan and Philippines have recognized the cryptocurrency as a legal method of payment.The Ministry of Finance in India has constituted a committee to examine the existing framework around Virtual Currencies (VCs) while Russia, which has been particularly hawkish, is expected to legalize Bitcoin and other cryptocurrencies as financial instruments in 2018 to combat issues related to money laundering.Bitcoin corrected to the sub $2000 mark during the last week of May.However, strong demand from China, Japan, Philippines and South Korea continues to fuel its price rally.Greater use of Bitcoin for facilitating remittances is one of the major factors behind the high demand for it in these countries where it continues to trade at a premium.

(See also: The Surprising Reasons For Bitcoin’s Rising Price) Ethereum (ETH) the second-largest cryptocurrency also hit its lifetime high at $256 on the back of upbeat atmosphere in the segment.Ethereum commands almost one-fourth of the overall market capitalization.The rise of Ethereum has been spectacular in the year and driven by the rising enterprise interest and strong use case.(See also: Understanding the Reasons Behind Ethereum's Price Rise) The other cryptocurrencies in the top seven are Ripple, NEM, Ethereum Classic, Litecoin and Dash.Ripple, the third-largest cryptocurrency, currently has a market capitalization of around $11 billion, while the remaining have a minor share in the overall market.Despite the smaller share, events like the successful activation of SegWit in Litecoin have strengthen the confidence of traders across the market.Prices and Market Cap at 4:23am EST, June 6, 2017 Want to learn how to invest?Get a free 10 week email series that will teach you how to start investing.