Sirwin
Sirwin

If China is financially 'Decoupled' - It could be a blockbuster Bitcoin and Altcoin harvest

By XTRM™ | Cryptopia | 1 Oct 2020


1st of October 2020 has seen a largely unexciting Cryptocurrency day in my honest opinion - so I was fascinated when I heard about a completely mental story from The Wall Street Journal via a connection on YouTube.

The article in reference is headlined 'Is Decoupling from China Worth $1 Trillion?'

The article is a rather speculative look at the possibility of China almost being liquidated by the financial sector of the western big players. But with the added facts of China pulling its own big players away from United States reliance in the technology sector in particular.

But it brings into light some very fascinating possibilities - especially to the Cryptocurrency world.

George Downs involved in a quite factual graphic in respect to the speculation within the actual article he states: "The tech battle between the U.S. and China has battered TikTok and Huawei and startled American companies that produce and sell in China."

As George's graphic highlights, China is indeed pumping billions in cash into high end chips and components in order to move away from the U.S. And why not? Personally I think it is a smart move and can help China safely develop technology and improve their own standards.

And why would decoupling China be good for Cryptocurrency in particular Bitcoin? 

I find any kind of financial messing about aimed at China, also sees a surge in Chinese Cryptocurrency activity - given the transaction sizes and amounts involved in easily moving said large quantities of pure hard Chinese wonga - the bigger the better... And that's where Bitcoin comes into play as the biggest player of the pack - mainly based on the currency being at the head of the pack. 

However this is not to say Altcoins will not benefit. They will indeed - again as the current economic plight initially started to hit China in early 2020 due to the great sickness doing the rounds on the planet, there was a surge in the use of Altcoins from China.

However... 2020 has also seen a lot of crazy goings on within the price fluctuations within the Cryptocurrency Top-20 that any benefit seen within Blockchains has been pretty much hidden. 

A much bigger movement of currency via China is going to make huge waves, and will see China start to heavily invest more time in moving cash via Crypto... There is a lot of speculation that there are some rather interesting deals done through western government using Cryptocurrency privacy to its maximum effect in any case - China is no different - we'll just leave that there... 🤣

I prefer to think a huge Chinese Cryptocurrency usage can only push things upward for tokens... I also like to have that little thought that China just pushing those few extra cryptocurrencies through during the viral outbreak - might just have stabilised any further downward movement mid-2020.

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XTRM™
XTRM™

Cryptocurrency Investigator - XTRM™ PR - Taking a laid back look at Crypto while sneaking up on the Cryptocurrency Bad Guys. All investigatory reviews are my own findings during testing - Dig a little deeper! If Carlsberg made Crypto Blogs!


Cryptopia
Cryptopia

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