Problems In Chinas Economy & Escalating Trade War Will Cause Large Bitcoin Rally - page 4.

tippytoes

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Quote from: Ailmand on May 22, 2019, 02:25:34 PM

Cryptocurrency has a big impact on the economic growth and trading war going on between China and Us. However, this controversy and despite mining being banned in China, these occurrences couldn't affect cryptocurrency's growth and it will still go better. The blockchain industry is too resistant to face these issues.

You have a point. There are several issues before originating from China, yet bitcoin keeps on growing. It doesn't stop because of China's problems. The scope of crypto is already bigger than China. But if it will do good in terms of bitcoin's price, why not?

dothebeats

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Possible. We saw a lot of manufacturers and giant companies side on the tail of US in the trade war following the Huawei ban for Google services. It only starts from there and I think a larger effect will be seen once other aspects of the trade ban start materializing. I for one believe that China is somewhat caught between a rock and a hard place here, and can only do things on their own which, I think some Chinese people wouldn't fancy in any way. Assuming that this trade war gets even nastier, people will soon see bitcoin as a way to escape the devaluing Yuan, and boy it will be quite a spectacle for the rest of the world to see (not that I want China to lose its economic strength but oh well.)

Ailmand

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Cryptocurrency has a big impact on the economic growth and trading war going on between China and Us. However, this controversy and despite mining being banned in China, these occurrences couldn't affect cryptocurrency's growth and it will still go better. The blockchain industry is too resistant to face these issues.

avikz

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Quote from: allthingsluxury on May 22, 2019, 07:09:40 AM

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.

Click here to watch this video and to read more:

https://goldsilvernews.blogspot.com/2019/05/problems-in-chinas-economy-escalating.html

I doubt anything of that sort will happen! China has already come down heavily on bitcoin and I am sure Chinese elites will not take such risk unless and until they want to flee out from the country. Even if some elites decide to use cryptos to safeguard their wealth (which is highly unlikely) they will use a portfolio of cryptos.

It's true that the trade was escalated pretty quickly, but don't think China depends only on US. They have retained number one position in international exporter's list since 2009. The trade war will definitely impact them, but not to that extent where they will have to find an alternate way!!

Decksperiment

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This indeed makes sense as investors are looking for safer havens to protect their investments but not only in China as news came out lately of an upcoming major global recession and those who are invested heavily on stocks are opting to diversify some of their investments to BTC and other major crypto which I think will be very good for the whole crypto industry itself.

CryptoBry

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Quote

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.

This is a great evidence that bitcoin can really act as a great and popular safe haven during times of troubles, problems and chaos. Just like the real gold, bitcoin is now cementing its reputation on this aspect but the main difference with the real gold is that bitcoin has more potential for excellent and amazing growth. The more that there will be problems in many countries' economy and the more that countries are getting into trade wars, the better bitcoin is gonna perform. And this is also showing us that despite banning bitcoin, moneyed people in China can easily get away and own bitcoin. Geographically, they can go to Hong Kong or Macau just to buy some bitcoin or even visit any Asian country for that matter.

Beerwizzard

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Quote from: rose9696 on May 22, 2019, 07:55:51 AM

I think the war between China and America will make the crypto market profitable. Because the cryptocurrency market is a decentralized market and it does not seem to be affected too much from other financial markets.

Not being affected also means that this trade war wouldn't make crypto market profitable. You are contradicting yourself.

Just IMHO but the main problem of chinese economy is not a trade war but their economic system. Their economy looks pretty much like in USSR. Chinese politicians may spend billions in order to provide funding for some road construction that is not needed at all. That is made only in attempt to increase their GDP but it doesn't give us the real effect. Considering how much money they spend on nothing Trade War is not really a big deal.

rose9696

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I think the war between China and America will make the crypto market profitable. Because the cryptocurrency market is a decentralized market and it does not seem to be affected too much from other financial markets.
A great field in the technology environment. Venezuelan people have also come to Bitcoin to buy more in the past. Chinese and Americans will soon find Crypto. Grin

allthingsluxury

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Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.

Click here to watch this video and to read more:

https://goldsilvernews.blogspot.com/2019/05/problems-in-chinas-economy-escalating.html

Topic: Problems In Chinas Economy & Escalating Trade War Will Cause Large Bitcoin Rally - page 4. (Read 697 times)