In China, China has dumped cash totaling over 810 Chinese yuan – about $ 130 bln – into its economy over five days. This is a move to solidify the economy of the country and boost the nation's supply, but they may have just helped their biggest enemy.
The Chinese government, since its shock ban on Bitcoin exchanges and ICOs, has been concerned (19459003)
However, the cryptomarket in the Asian country has been reduced to a high percentage of the world.
Trickle-down effect
The extra liquidity came into the world. This is the Central Bank buying securities from commercial banks as they agree to sell them again in the future. This capital is now floating around, quite liquid, in the economy, and there is no doubt it will join the Bitcoin revenue stream.
Nomura analysts said in a note, adding that the market is pricing in maintenance of a cautious monetary policy stance:
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Because Bitcoin continues to live in China, behind a black market-style wall,
Thus, it seems that China may well be shooting themselves in the foot with this latest move has no doubt a trickle-down effect, leaving more capital to flow into cryptocurrency. (19459003)
Bitcoin lives on
Cryptocurrencies can be banned from the mainstream, but it does not mean they died in the socialist republic. There were other ways of trading and working with cryptocurrencies.
The cutting off of the head of the Bitcoin exchanges has only bolstered its body. LocalBitcoins
However, there are some dulling of the ounce overactive Chinese market as a lot of the business that OCCUPATION OKEX and HUOBO has moved to the mainland.
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