CandleFocus 1.4 Trillion Dollar Earthquake Expected in China: How Will Bitcoin and Cryptocurrencies Be Affected?
2024-09-14
Author: Content Editor
Bitcoin and the wider cryptocurrency market are expected to rally in 2024 as the US dollar faces concerns of a potential collapse. Speculation has also emerged that Russia may embrace Bitcoin, while a $1.4 trillion stimulus package in China could further boost cryptocurrency prices. Economists believe that China's economy is in a grim state, with low consumer spending and stagnant household savings, leading to calls for a "shock and awe" stimulus package. Weaker-than-expected inflation and ongoing price pressures add to the urgency for a large-scale stimulus. Morgan Stanley's chief China economist predicts a $1.4 trillion stimulus package over the next two years.
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