Do China Investment Restrictions Set The Stage For A Bitcoin Boom?

Reported by News BTC, “According to sources close to CNBC, the White House considered blocking US firms from investing in China. Shares of major Chinese companies dived on Friday, as the rumors gained traction. However, shortly after this, the US Treasury waded in to quash the rumors.

“All the same, with trade talks due to resume on October, 10th, the uncertainty is casting doubt over a resolution. This latest debacle, from the White House, has only served to inject more anxiety into the markets. But worse than that, it will have damaged what little Chinese affability remains.

“That being so, could deepening trade tensions, and the looming global recession, be the catalyst for a Bitcoin price boom?

“Shares of Alibaba and other major Chinese firms took a hit on Friday on the news of plans, by the White House, to restrict US firms investing in China.

“While trade talks resume early next month, leaks of investment restrictions are sure to anger Beijing. And there’s no doubt that the hopes of finding a resolution have moved further away, as a result…

“…Indeed, delisting Chinese companies would affect billions of investment secured in the US. And comes at a time when the China Communist Party is looking to increase foreign access to its markets.

“That being so, as the world teeters on the edge of a global recession, a flaring of further hostilities does nothing to settle the jitters.

“As such, talk abounds of Bitcoin finally having the opportunity to prove its worth. Although it took a beating last week, it remains one of the few options left as a hedge against economic collapse.

“While Bitcoin is unproven in a recession, many analysts cite its opposing ideals as what will carry it to new heights during an economic slowdown.”

Continue to read the full story at News BTC.

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