Bitcoin: A Golden Ticket Around China’s Capital Controls
China, a country once believed to be one of the top financial powerhouses in the world, is starting to show its true colors. In recent weeks, the Chinese Yuan has been devaluating at a rapid pace, and many wealthy investors are moving all of their funds out of the country while they still can. But the Chinese government is not sitting by idly, and is....
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Chinese residents who value their financial freedom need to consider obtaining Bitcoin. China’s capital controls are slowly getting out of hand as of late. A new move will see UnionPay bank card holders withdrawal limits cut in half. This is another move to fight the Macau gaming industry, which is often seen as a “safe’ way to avoid capital control. All of this will highlight the value and viability of Bitcoin even further. With multiple billions of yuan flowing out of the Chinese economy every year, stemming the tide is of the utmost importance. Doing so is not an easy feat by any means,....
Amid China’s Bitcoin price reaching all-time highs on BTCC, an industry figure has denounced the currency’s use as a tool against capital controls as useless. In a post earlier today, Bitquant founder Joseph Wang described Bitcoin as “pretty much totally and completely useless for getting money out of China.” Bitquant, a FinTech research laboratory based in Hong Kong, has produced in-depth literature on digital currencies, including a macroeconomic model of Bitcoin. Wang: ‘Nobody interested’ in a Bitcoin capital solution. Despite even mainstream news outlets reporting Chinese investors are....
The Bitcoin golden cross, a signal that has traditionally been a bullish indicator, is now official, according to a capital manager. The Famous Bitcoin Golden Cross Now “Official” According to a capital manager on Twitter, the Bitcoin golden cross is now official. This is only the eighth time in the history of the coin that such a cross has occurred. The “golden cross” has been the topic of discussion all over the online crypto communities today, but what is it that makes it so special? Well basically, a golden cross is marked by a short-term moving average (MA)....
Assuming there is any truth to these rather optimistic claims, the next step will come in the form of the ECB giving Greek banks access to cheap funding. In an incredibly surprising turn of events, it looks as if Greece is getting ready to lift capital controls but the end of the year.After facing an economic disaster not too long ago, the country has tried to recover. For some unknown reason, things seem to be going a lot better than most people expected. Many people have been following the news about Greece and feared the situation in the country would only become worse over time.....
China’s big three exchanges announced they would end zero fee trades and margin trading Tuesday due to increased scrutiny by the People’s Bank of China (PBOC), leading to a collapse in Chinese bitcoin trading volumes. The changes come on the heels of Beijing’s implementation of new capital controls in 2016. In late January, China’s big three bitcoin....