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If you were among those concerned that the major hack of Hong Kong based cryptocurrency exchange Bitfinex would be fatal for Bitcoin you can breath a little lighter today – the USD/BTC exchange rate is back above $600. The only apparent reason for the rise is a push from speculators expecting devaluation of Chinese yuan.
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Before about $65 million in Bitcoin were revealed to be stolen from Bitfinex, prices hovered around $640, so there is still ground for the exchange rate to recover. However, the $600 benchmark is a strong ... (read more)