https://www.zerohedge.com/news/2019-05-13/why-bitcoin-soaring-thank-trump-and-trade-war
1.the US trade row with China (and expectations of Chinese retaliation to the detriment of global trade) in conjunction with
2.US Dollar index hovering near 15 year highs (ongoing Fed B/S QT, Fed policy rate at 11 year highs and surging UST issuance sap USD liquidity) and
3.Crude now reaccelerating higher on the Saudi tanker "sabotage" and various supply-pressures makes for a very challenging backdrop, as the inflationary pressures on the Crude exporting EM countries makes it difficult for their central banks to cut rates
So where is some of this EM outflow heading? The answer: crypto — as the uncanny correlation between the Yuan and Bitcoin in the chart below shows — seems like a reasonable conclusion, "as EMFX currencies are at risk of rising CB rate cut risk and destabilizing currency outflows."




