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Bitcoin Jumps to Three-Month High as Yuan Weakness Fuels Buying

(Bloomberg) – Bitcoin rose to an almost-three-month high amid a surge in volume as the yuan extended a six-year low, bolstering Chinese demand for alternative assets. The cryptocurrency jumped as much as 4 percent from Friday to $655.50, the highest since July 29, according to data compiled by Bloomberg. Trading volume climbed to an almost seven-month high of 5.5 million bitcoin on Sunday, data on Bitcoinity.org showed.

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