Bitcoin price could be impacted by China’s newly enacted economic stimulus interventions.
News headlines have recently covered how China's struggling economy poses significant risk to global growth. Economic activity and the flow of credit in the region are weakening and analysts are not convinced that the Chinese government’s interventions are a sufficient fix for what appear to be structural problems.
On Aug. 28, the Shanghai Shenzhen CSI 300 Index, a key indicator of the Chinese stock market, initially surged by 5.5% before ultimately closing the day with a 1.2% gain. Despite this improvement, Chinese shares continue to be among the poorest performers globally in equity indexes tracked by Bloomberg.
Selected trading firms lowering leverage margins, making trading with borrowed funds more accessible to investors. However, it quickly became evident that the measures which were initially touted as economic stimulus, lacked the intended effect, according to Ting Lu, Chief China economist at Nomura Holdings. He noted that these measures"fall short in halting the downward trend and their impact will be short-lived unless accompanied by support for the actual economy."
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