Chinese investors know about bitcoin (BTC) to find out. So last week I had a relatively large Chinese Yuan (CNY) will be exchanged for BTC in peer-to-peer exchange LocalBitcoins. That’s according to figures from the cryptofonds of ID Theory.
To win the counter-cyclical asset, growing in popularity in China after the united states, the largest economy in the world.
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Bitcoin (BTC) Chinese Yuan handelspaar
Over the past week, to $2.9 million in Chinese Yuan (CNY) will be exchanged for BTC. The volume is, in absolute terms, is $100,000 higher than the week before.
At two and three will follow in the countries, India ($1 million in volume), and Thailand (approx. $600,000 volumes). That’s an increase of 50% in English in comparison to the previous week.
China
To win bitcoin (BTC) in popularity now that the flames of the economic dragon, put out looks like?
It is a fact that the central bank of the country, the People’s Bank of China (PBOC), with $28 billion to the economy a significant cash injection has been given. Designed to get the stalled economic engine back to work.
The Financial Times reported last Friday that the gross domestic product (GDP) of the country in a quarter with 6% growth. In Europe, it would be that the fingers are this possibilities, and in China, it means bad news for you.
According to analysts, is the lowest growth rate since the mid-eighties, the chart below also illustrates. There will be an end to the dual numbers?
source: Statista
According to the International Monetary Fund (IMF) and the rising debt payable by r.a. the buy-back of equity shares of companies a matter of concern. This problem has its centre of gravity is among the biggest economies in the Americas and asia.
Bitcoin is becoming increasingly attractive because it is, like gold, is not directly linked to the global economy. It’s true and if have a refuge in times of uncertainty, even though its status is still to be proved.
Below is a card that makes it clear that it is the volume, in this case, it on LocalBitcoins – mainly the creation of Asian writing.
Source: IDTheory
In Latin America, with Venezuela and Argentina, they did a LocalBitcoins is always good business, but because of the set up of the KYC procedures, the volume is up there is down by about 5%.
The new rules, the average weekvolume to be approximately $ 60 million in bitcoin, and this is down to 37 million.
After all, a fun two of the Airlines Wan), a computer reporter, who has been in the ins and outs of the Chinese computer industry.
a follow-up here … Bitcoin rules ? pic.twitter.com/a78j011PsT
— Airlines And Wan ? ? (@DoveyWan) As Of October 21, 2019
Source: Cryptobriefing
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