Bitcoin Price Buoyant as China Tightens Capital Outflows

Bitcoin Price Buoyant as China Tightens Capital Outflows

While Bitcoin price has been rather calm as of late, the return of Bitcoin volatility could be around the corner as China introduces new capital controls. China Tightens Grip on Capital. Confirmation is coming out of China that new regulations are being placed on how businesses move capital in and out of the country. Considering the impact of China on Bitcoin, the price could be due for another spike. One source familiar with the matter told Reuters: “The State Administration of Foreign Exchange (SAFE) has begun vetting transfers abroad worth $5 million or more and is stepping up scrutiny....


Related News

Bitcoin Price $800 Imminent; Boosted by China Capital Outflows

As capital outflow from China continues to increase, the possibility of Bitcoin reaching $800 seems to be more than ever. Bitcoin has been going strong since the past few weeks. The cryptocurrency which was priced at around $640 in mid-October has surged past the $700 mark and now stands at $725, after falling to $690 briefly over the weekend. At the current pace, the price of Bitcoin reaching $800 is imminent. As to the reason behind the recent increase in price, the largest since June 2016 is the constant demand for Bitcoin in the Chinese market. Lately, China has been witnessing an....

Investor Indifference Follows Bitcoin’s Break Above $20,000

Bitcoin has been seeing a lackluster performance in the last couple of weeks, and crypto investors have responded in kind to this. After a couple of weeks of tethering above $20,000, the digital asset’s price had finally fallen below this important technical point, triggering outflows in the market. For the past week, institutional investors have continued to feel the fatigue in the market, so while there were outflows, they still remain quite muted. Bitcoin Loses $29 Million Bitcoin outflows have continued into another week. This has now brought outflows for the digital asset into three....

Bitcoin Remains The Only Viable Option To Avoid Capital Controls In China

That said, the Chinese government wants to crack down on Bitcoin-related capital outflows. Bitcoin has always been of keen interest to the Chinese crowd. Most people in China see cryptocurrency as can investment vehicle and use it for high-frequency trading. But with the current economic turmoil in the country, Bitcoin is a way to circumvent capital controls. Singapore-based newspaper The Straits Times seems to agree with this sentiment, as they dedicated an entire article to Bitcoin. The Chinese government has to address many different problems at the same time. One of their biggest....

Global Economic Outlook: November Capital Outflows From China Biggest Ever

US Treasury data combined with PBoC reporting suggests that China's foreign currency reserves experienced a strong decline in November. There are several explanations and some see bitcoin to be the beneficiary. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates. Commodities. In the Calendar This Week. Fed Rates Announcement. Mon 14 December. N/A. Tue 15 December. N/A. Wed 16 December. USD FOMC Economic Projections. USD FOMC Statement. USD Federal Funds Rate (expected:<0.50% previous:<0.25%). USD FOMC....

Here’s What Increased Cap Outflow in China Means for Bitcoin

A look at what increasing capital outflow from China suggests about bitcoin adoption, and what implications a Chinese slowdown might have for the bitcoin price going forward. At the end of last month, we learnt that Chinese capital outflows during 2015 totaled $676 billion net. The data marks only the third net capital outflow since the turn of the millennium, and by far the biggest, with the other two coming in at less than $140 million net (2012,2014). The outflow comes against a backdrop of wider economic weakness in China and emerging markets, and quantifiably highlights China’s....