tldr; China’s slowing economic growth, failing to meet a 5% target, is impacting Bitcoin positively. As Chinese equities and real estate decline, investors are turning to gold and potentially Bitcoin, seeking returns outside the Chinese system. With interest rates dropping and more stimulus, Chinese savers may shift to cryptocurrencies. Despite restrictions, over-the-counter trading desks in China are seeing record inflows. The economic downturn and high youth unemployment are pushing authorities to loosen monetary policies, indirectly benefiting Bitcoin as a risk asset.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
ex-machina616 on
Forbes again… whoever owns them must own a lot of crypto
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Wen China unban crypto?
tldr; China’s slowing economic growth, failing to meet a 5% target, is impacting Bitcoin positively. As Chinese equities and real estate decline, investors are turning to gold and potentially Bitcoin, seeking returns outside the Chinese system. With interest rates dropping and more stimulus, Chinese savers may shift to cryptocurrencies. Despite restrictions, over-the-counter trading desks in China are seeing record inflows. The economic downturn and high youth unemployment are pushing authorities to loosen monetary policies, indirectly benefiting Bitcoin as a risk asset.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Forbes again… whoever owns them must own a lot of crypto
So, why am I red and eating ramen?
Because it’s forbes