Bitcoin’s value went through the roof on Wednesday last week as investors piled into the digital currency, which is often used as a hedge during times of uncertainty in the global economy. However, several hours later Bitcoin crashed by nearly 20 percent, with analysts attributing the fall to a sudden rise in the value of China’s yuan.
Bitcoin soared in value last year, becoming 2016’s strongest performing currency, with the digital currency’s dizzying rise continuing over into the new year. The Bitcoin Price Index showed the currency breaking through the US$1,100 mark during early trading Wednesday, reaching a three-year high of US$1,139.89 and edging toward 2013’s record high of US$1,165.89.
However, according to Reuters, Bitcoin’s value suddenly plummeted on Thursday by 20 percent, slumping to US$885.41, a fall of more than US$200 in a single day’s trading, once again demonstrating the volatile nature of digital currencies. Reports attributed the cause of the dramatic crash to the Chinese yuan offshore exchange rate’s steep appreciation of more than 1 percent against the dollar.
(CNA, translated by Edward Jones)
1. digital currency n. phr.
(shu4 wei4 huo4 bi4)
2. hedge n.
(bi4 xian3 biao1 di4)
3. plummet v.
暴跌 (bao4 die2)
4. volatile adj.
多變 (duo1 bian4)
You like the great outdoors, don’t you? (3/5) 你不是很熱衷戶外活動嗎？（三） B: Does the list say anything about tents? If we’re staying at the top of the mountain overnight, we’ll need somewhere to sleep, especially if it rains. A: Yes, you’ll need a tent. They’re not too expensive these days. B: I have a good one at home. It’s sturdy and light. I also have a warm sleeping bag and a sleeping mat that packs up small. A: And don’t forget a headlamp, with extra batteries, for when it gets dark. B: I’m glad you reminded me. I would have forgotten the headlamp. A: Finally, bring washing
You like the great outdoors, don’t you? (2/5) 你不是很熱衷戶外活動嗎？（二） A: Well, the first thing you’ll need is a pair of good walking shoes or boots. The guide emphasizes the need for something with ankle support. Some of the terrain will be quite uneven underfoot. B: Will we be carrying much gear with us? A: According to this list, you’ll need a large backpack, with a capacity of at least 50 liters. It says everyone in the group will be carrying extra food. B: Extra food? We have to carry that up the mountain ourselves? A: Well, the guide is planning a BBQ at the top of the
B: Where are we meeting the rest of the hiking group? A: The guide will pick us up in Kaohsiung and drive us to the trailhead. There’ll be five of us going. We’re thinking of hiring a car. B: Good idea. If we split the car rental fee between us it will end up much cheaper than five HSR return tickets. And we can leave a change of clothes in the car for after the hike. A: My friend has volunteered to drive. She has one request, though. B: What’s that? A: That we all have a shower before we get in the car
Following the huge success of the last two seasons, online video platform iQiyi recently launched Season 3 of its boyband reality show “Youth with You.” The new season is hosted by singer Chris Lee, while Li Ronghao, Will Pan and Lisa of K-pop group BlackPink serve as vocal, rap and dance mentors for the 119 trainees. The top nine standouts among the contestants are set to form a boyband. Unlike previous seasons, however, iQiyi has recruited different types of trainees to increase the diversity of talent on the show, including the members of Produce Pandas, a five-piece “plus-sized” band. Since