Bitcoin’s impressive gains over the last week are rumored to be the result of booming institutional interest. Many investors are currently looking into alternative assets when the stock market is highly volatile. The global economy might be on edge, but Chinese investors remain calm and collected and go all-in into bitcoin.
Many experts are speculating that institutional investing is actually falling behind Chinese investors when it comes to the bitcoin price spike. With the yuan taking heavy hits due to the trade war, Chinese investors are looking for a safe haven.
It’s no secret to anyone that the Chinese government is not favorable towards cryptocurrencies. Exchanges were shut down, ICOs were banned and a mining ban is looming on the horizon. It’s more than obvious that the Chinese government and Chinese investors don’t see eye to eye on these matters.
The yuan is buckling under the pressure of the trade war and Chinese investors are beginning to rely on bitcoin. China announced their own countermeasures towards Trump’s tariffs. The measures included Chinese tariffs ranging from 5% to 25% on over $60 billion worth of United States goods. This resulted in the biggest single-day drop since July 2018.
Chinese Investors are making use of loopholes
China had already taken measures against an eventual massive dump of the yuan. The country made the yearly outflow of yuan capped at $50 000. Bitcoin however, gives Chinese Investors the opportunity to go around that ban. Even though crypto exchanges are banned, over-the-counter dealers and peer-to-peer exchanges still make this process possible.
Many rumors are flying around that traders in Hong Kong are massively dumping the Chinese yuan and moving into stablecoins. The Chinese people have always found many genius ways of getting money out of the country.
If a compromise is not reached soon, it’s more than likely that the price of bitcoin will spike a lot. While it’s very early to talk about reclaiming the $20K peak, there are many possible scenarios. It appears that currently both China and the United States are losing the trade war. Bitcoin is the only winner and if this keep going this way, the winning has only just begun.
Know more:

Bestmixer Shut Down On Money Laundering Charges
Thursday May 23, 2019

Several regulators in the crypto space fear that digital currencies will be used to launder money. After cases like these, we can understand why. Money Laundering Is a Serious Crime in Europe has been seized by officials, who claim that the company was “washing” over $200 million in cryptocurrency funds and putting them into […]

The post Bestmixer Shut Down On Money Laundering Charges appeared first on 12bit trade.

Travala and Litecoin Partnership Showing Great Promise
Killing Bitcoin Will Backfire Against the Governments
Crypto Game of Thrones: Simple Explanation of Who is What

Lakers should explore using Brandon Ingram at PG – Stephen A. Smith | First Take
Friday November 09, 2018

Stephen A. Smith and Max Kellerman break down how the Los Angeles Lakers used improved defense and Brandon Ingram at point guard to beat the Minnesota Timberwolves at Staples Center. Subscribe to ESPN on YouTube: Subscribe to ESPN FC on YouTube: Subscribe to NBA on ESPN on YouTube: Watch ESPN on YouTube

The post Lakers should explore using Brandon Ingram at PG – Stephen A. Smith | First Take appeared first on W88.

The post Chinese Investors Know Bitcoin is the Winner from the Trade Wars appeared first on CoinStaker | Bitcoin News.

RuPaul’s Drag Race All Stars Season 4 Cast Spoilers
Friday December 14, 2018

Ahead of the Season 4 premiere of RuPaul’s Drag Race All Stars, the 10-person cast has been teasing their entrance looks and reflecting on their past seasons on the reality television competition. According to VH1, in tonight’s two and a half hour episode, “All Star Super Queen Variety Show,” the All Stars compete in their […]

The post RuPaul’s Drag Race All Stars Season 4 Cast Spoilers appeared first on 12bet - Bet365.