Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Sophie Robert on June 26, 2023, 07:08:04 PM
-
Popular cryptocurrency analyst @tedtalksmacro recently highlighted an intriguing tendency in the cryptocurrency industry on Twitter. He pointed out that this year's repeating theme of rising Bitcoin (BTC) prices has corresponded with an increase in Chinese liquidity.
https://twitter.com/tedtalksmacro/status/1673210740365295617 (https://twitter.com/tedtalksmacro/status/1673210740365295617)
Since the start of 2023, a correlation has been found between China's introduction of "quantitative easing" and the rise in the total market capitalization of cryptocurrencies (TOTALCAP).
People’s Bank of China Impact
Analyst @tedtalksmacro, observations reveal that the significant liquidity injection by bank in early 2020 was correlated with the macro bottom of Bitcoin’s price. Similarly, the current injection of cheap cash, which is currently underway, appears to follow shortly after the bottom of the preceding bear market.
My View -
I don't think that this is the sole factor influencing the cryptocurrency market currently. Bitcoin ETF news also has made BTC price to surge. I will be still watching closely to see how these dynamics unfold in the coming months.
Till then stay tuned and let's all hope BTC crosses its ATH in H2 2023.