NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price $800 Imminent; Boosted by China Capital Outflows

Gautham
Gautham
4 years ago
2 mins read
Bitcoin Hotbed China Is Now Leading the Fintech Race. newsbtc bitcoin news.

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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.

coinmarketcap btc

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 increased capital outflow despite strict capital controls. According to available data, the country is leaking money for over two straight years due to weakening yuan. China’s foreign exchange reserves are said to be plummeting at a drastic pace as more people rush to buying foreign assets.

Most of the capital outflows are attributed to two factors: one, where the exporters from the mainland are keeping their money in offshore, and the other where people are buying Bitcoin to prevent their assets from depreciating with yuan; and also for cross-border investments and transactions.

With an estimated total of over $573.2 billion in the capital outflow from China this year (Citigroup Global Markets’ estimate), the half yearly numbers stood at around $286 billion. If the actual figures are in any way going to match the estimated numbers, then the demand for alternate currencies like Bitcoin is expected to only go up during the last two months of 2016.

trading economics

Last month, Goldman Sachs warned China stating that the country’s outflows may be worse than it appears to be. As yuan hit a 6-year low in October, the country continues to tighten its capital controls which may have driven not just the individuals and investors but also corporates to Bitcoin as the fear of depreciation looms over Chinese yuan.

The continued increase in demand for Bitcoin from various segments of the Chinese population will continue to reflect in the upward movement of the digital currency’s price. It is just a matter of time before Bitcoin reaches $800 mark.

Ref: WSJ |CNBC | Forbes | Bloomberg |Image: NewsBTC | Charts: CoinMarketCap | Trading Economics 
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Snorter 募資達 160 萬 打造更聰明的迷因幣量化機器人

全新原生於 Telegram 的交易機器人項目Snorter Token (SNORT) 已在預售階段成功募資 160 萬美元,全程不靠過度炒作或虛假承諾。 Snorter 不賣幻想,它提供的是交易真...

estherw 3 hours ago
Ethereum Turns Key Resistance Into Support – Momentum Builds For Range Breakout

Ethereum Turns Key Resistance Into Support – Momentum Builds For Range Breakout

Ethereum is consolidating above the $2,500 mark, showing resilience amid broader market uncertainty. While bulls have successfully flipped $2,500 from...

Sebastian Villafuerte 5 hours ago
Ethereum

Ethereum ETF Inflows Hit 8-Week Streak—Institutions Still Buying

Data shows the US Ethereum spot ETFs have seen net inflows for eight consecutive weeks now, a sign of continued...

Keshav Verma 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

ビットコイン23万ドル予測、注目の仮想通貨プレセールにも期待高まる

Фьючерсы на биткоин восстанавливаются, но сигналы Price Action вызывают опасения

lisachaikina 15 minutes ago
Bitcoin

Bitcoin Bull Flag Breakout Confirmed — What Happens Next?

Sandra White 1 hour ago
Bitcoin Price Respects Support Zone

Bitcoin Price Respects Support Zone — Bulls Eye Fresh Rally

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • 🚀CRYPTO MINING FIRM launches an APP cloud mining...

    2 hours ago
  • Felpörgő alternatív kriptovaluta a Dogecoin (DOGE) helyett – 650 dollárból 65 000 dollár lehet 4 hónap alatt

    Felpörgő alternatív kriptovaluta a Dogecoin (DOGE)...

    10 hours ago
  • 3 figyelemre méltó altcoin 2025. júliusának első hetében

    3 figyelemre méltó altcoin 2025. júliusának első...

    11 hours ago
  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    13 hours ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.