Sanctions imposed by US against China are providing a boost to Bitcoin

As White House National Security Advisor Robert O'Brien warns China with economic sanctions over Hong Kong's national security law, Bitcoin anticipates global expansion. According to Naeem Aslam of AvaTrade, the warning could prompt the People's Bank of China to depreciate the yuan, which would be devastating for all currencies. In the midst of the stressful geopolitical turmoil, and gold may draw more purchasers. Bitcoin and the Chinese Yuan used to have a near-perfect negative connection . The cryptocurrency rose in value while the official currency dropped. At the height of the US-China trade war, the two assets formed a close…