🔥🇨🇳 Analysts predict BTC to rise to $78,000 in the coming weeks amid the announcement of a “stimulus package for the Chinese economy.”

The People’s Bank of China (PBOC) will inject $140,000,000,000 in liquidity into the financial system, cutting the RRR* rate by 50 bps.

+ eased 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.