• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision

Chinese Economy Hits the Road to Recovery, Slow but Steady

Gautham by Gautham
6 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

China is on everybody’s lips lately. Be it electronics and consumer goods companies, economists or politicians, they all have their reasons to keep a close watch on the Asian economic powerhouse. Projected to be the next big global superpower alongside its neighbor India, the country is currently going through slight turbulence.

Any developments in the Chinese economic situation is expected to have a widespread effect on a global scale. The slowdown experienced by the country in the past couple of years has got the market (including cryptocurrency sector) speculating about future implications. The economic slowdown was attributed to a number of factors, top one being the devaluation of Yuan. There have been predictions about yuan losing over 30 percent of its value in the coming months.

After a dismal performance, the Chinese currency and markets have shown some considerable gains today. According to a piece on of the business magazines, the displayed market trend is nothing out of the ordinary. However, given the size of the economy, the magnitude of these fluctuations seems to be huge. As the article states,

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

“the reality is much simpler — economic winds usually shift cyclically, not structurally”.

China has been going lengths to protect its economy from showing further signs of deterioration. In an unprecedented move, the Chinese government has also initiated legal action against the European Union and the United States of America for not abiding by the WTO agreement in recognizing its market economy. The legal action along with its strict capital controls and other regulations are expected to strengthen the government’s control over its economy both within and outside Chinese borders.

These changes have already started to show results. Many leading publications have reported the developments in the economy following last month’s economic stabilization. The country is also heavily invested in real estate and infrastructure projects across the world. These investments are expected to start generating returns in the coming years, by not just promoting trade but also as an instrument to strengthen diplomatic ties.

The Chinese economy may be moving at a slow pace at the moment but, it is not going to stay that way for long. These very conditions will also spell positive news for the cryptocurrency market in the country. People are already investing in Bitcoin to safeguard their earnings from being devalued. This has increased the demand, considerably increasing the price of the most popular digital currency. In due time, once yuan gains its ground, they will be able to liquidate their Bitcoin holdings at a much higher price.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Ref: WSJ |  Express |Fortune | Shanghai Daily | Image: NewsBTC
Tags: bitcoinBitcoin NewsblockchainchinaeconomyNews
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

Euler

Euler (EUL) Up 25% As Hacker Returns 51,000 ETH From Stolen Loot

5 hours ago
Pooky, The NFT Football Prediction Game That Pays, Launches Today

Pooky, The NFT Football Prediction Game That Pays, Launches Today

1 day ago
Bitcoin

Bitcoin Price Action Mirrors Q1 2021, Volatility Ahead?

2 days ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

2 days ago
Bitcoin

Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

2 days ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

2 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Bashar DAO Launches BASHAR Token: For the Betterment of the Arab Region

March 26, 2023

Futures of metaverse tokens like The Sandbox (SAND), and Decentraland (MANA) are very blurry, while Defi Giant RenQ Finance (RENQ) remains the hottest crypto of 2023

March 26, 2023

TMS Network (TMSN) Poised to Become the Next 1000x Token, Magic (MAGIC) Down 8.38%, and Binance (BNB) among the few Cryptos with an Exciting Future

March 26, 2023

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.