Will Bitcoin Boom After China’s New Monetary Infusion This Weekend?
Analysts have released a remarkable report on the impact of China’s economic stimulus on Bitcoin prices. Accordingly, China will announce new monetary easing policies this Saturday (October 12). This will inject more liquidity into risk assets, including the crypto market.
The Chinese Council Information Office said that Mr. Lan Fo’an (Minister of Finance) will provide details on the new economic stimulus policies at a press conference today. The scale and scope of China’s stimulus packages could still surprise the market.
Alex Tapscott (CEO of Digital Asset Group) also emphasized that China’s intervention in the financial and real estate markets could spur strong buying demand in the crypto market. China announced a series of economic stimulus measures designed to lower borrowing costs and stimulate economic activity in late September.
Increased liquidity from China's fiscal stimulus measures, coupled with the possibility of further interest rate cuts by the US Federal Reserve, are positively impacting investment markets.
