Trump’s Trade War With China Could Boost Chinese Bitcoin Demand
U.S. President-elect Donald Trump has pledged to declare China a currency manipulator on day one of his presidency. During his campaign, he also repeatedly pledged to impose a 45% tariff on Chinese goods. His promises risk creating a trade war between the U.S. and China which could weaken the yuan and accelerate Chinese capital outflows. When the yuan....
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A new Demand Institute's study finds that the demand for expanded access to financial services, which could add an estimated $650bln in Chinese consumer spending over the next 10 years, has been going largely unmet. The report, A Wealth of Opportunity: Chinese Consumers and Their Shifting Demand for Financial Services, states that there exists an untapped demand among Chinese consumers for household financial services products, including deposit accounts, credit cards and debit cards. It further elaborates that the evolution of this demand in China would be different to that of other....
China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens. Digital Yuan Push Could Raise Demand for Crypto Boris Schlossberg, managing director of FX Strategy for BK Asset Management, said in a note last week that China’s absolute control over its central bank digital currency (CBDC) will drive more demand for cryptocurrency, CNBC reported Friday. Schlossberg has more than 20 years of financial market....
At the same time, one has to wonder if Trump can deliver on his promise to "Make America Great Again". The impending inauguration of Donald Trump will send shockwaves through the global financial sector. Some experts feel gold prices will soar, depending what Trump says during his speech. At the same time, Bitcoin’s value could go up by quite a margin as well. Safe-haven assets will be in high demand moving forward, that much seems to be a foregone conclusion. Trump’s inauguration is getting a lot of media attention right now. With just a few days until this event happens, the....
Bitcoin price and market value have been less than volatile for the majority of 2015, but a Bitcoin bull market run has been started in China recently. The last two weeks have seen price values increase as much as 20%, peaking at US$295 on Sunday. This coincides with recent currency market manipulations of the Chinese Yuan/Reminbi by the Chinese government. In the West, speculation of why Bitcoin has been on a “bull run” have centered around the recent EU VAT tax ruling in Bitcoin’s favor, but nothing correlates directly to the spike like the moves made in China. Provided by ZeroHedge in....
Read the original Chinese article on btc38 and btckan, a prominent Chinese Bitcoin exchange and website, respectively. BTC China's CEO Bobby Lee has introduced a new method for Bitcoiners in China to "recharge" their RMB balances on Chinese Bitcoin Exchanges: BTC China vouchers. Within a week, Chinese Bitcoin Exchanges led by BTC China, have found a solution for getting RMB deposits into Chinese Bitcoin Exchanges in compliance with ever-changing interpretations of Chinese law. Alternatively, Huobi's CEO has been using his personal bank account to provide RMB liquidity for all of his....