The strong rise in the risky market fully demonstrates the safe-haven properties?

  Bitcoin prices soared sharply in the Asian session on Thursday (January 7), breaking out of the previous trading day's range.

The quotes released by BITSTAMP show that Bitcoin/US dollar (XBT/USD) fluctuated in the 426-432 range yesterday, and soared to 442 in the Asian session of this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) fluctuated in the range of 398-402 yesterday, and soared sharply to above 410 in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com show that Bitcoin/ RMB ( 6.5937 , 0.0392 , 0.60% ) fluctuated in the range of 2790-2840 yesterday, and soared sharply to around 2918 in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

In the Asian session of this trading day, Chinese stocks and currencies fell. The offshore RMB against the US dollar fell more than 650 points in the early trading, setting a new record low of 6.7517, and then rebounded sharply under suspected intervention. The Chinese stock market hit a 7% circuit breaker and closed early.

As the risk aversion in the market surges, Bitcoin soars in the market, which makes people regard it as a safe-haven currency. What is more eye-catching is that the euro has risen due to its financing currency attribute, and Bitcoin has the upper hand in comparison with the euro.

At 13:28 Beijing time on January 7, Bitcoin/USD was 440.34, Bitcoin/Euro was 407.89, and Bitcoin/RMB was 2897.61.