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Is China about to embrace crypto?

August 2, 2019 Posted in Forex Trading News by No Comments

We have some interesting news coming out of China for all of you crypto traders and crypto investors. It seems that we in the west aren’t the only ones getting our interest piqued by the incredible rise of Cryptocurrency, now the Bank of China has released an infographic that is surprisingly positive towards Cryptocurrency. As you can probably hear from the name the Bank of China is state-owned, and their views are just an extension of the views of the Chinese state.

The infographic explains a bit of Bitcoins history as well as giving us their views on why the price is going up. Lastly, the most exciting part of this infographic is an explanation of why Bitcoins are valuable. This follows hot on the heels of a Chinese court saying that Cryptocurrencies should be viewed as digital property. All this is coming from a country that has officially banned Bitcoin, rather strange is it not?

What do you think? Is China about to do a 180 on their Cryptocurrency policy? If so where do you think the price of Bitcoin will go? If you decide to start trading don’t forget to look at our guide to the Best Cryptocurrency brokers.