🔥🇨🇳 Analysts predict that BTC could rise to $78,000 in the coming weeks in light of the “stimulus package” announced for the Chinese economy.

The People’s Bank of China (PBOC) will provide $140 billion in liquidity to the financial system by cutting the reserve requirement ratio (RRR*) by 50 basis points. + They also relaxed the rules for buying real estate and will recapitalize the largest banks for the first time in more than 10 years. (Cointelegraph)

*RRR is the reserve requirement rate for banks.