March 28, 2024

China's economy is above expectations, and Bitcoin and Yuan may start to fall.

China's economy is above expectations, and Bitcoin and Yuan may start to fall.

China today showed fantastic results in economic growth. In the 4th quarter the growth was 6.5%, and inon an annualized basis, while the GDP of all countries fell, China's GDP grew by 2.3%.

I would like to comment on China's GDP growth in 2020only by the fact that China exported 224 billion masks from March to December 2020 - that's about 40 masks for every person outside of China. Simply put, China's medical device and drug exports last year grew 31% compared to 2019.

I think no one doubted that Chinawill show great economic statistics, as China's trade surplus reached a historically record high of $ 78.2 billion last year.

Regarding the Yuan, I agree with analysts hereDanske Bank said most of the yuan's appreciation has been left behind. The US economy should begin to recover in 2021, which will lead to China continuing to try to manipulate its currency in order to maintain or further increase demand for goods.
☝?Biden's arrival could form an alliance between the EU and the US, which will be aimed at reducing China's role in the global economy.

☝?The picture you see for the post is probably my obsession, since the fall of the Yuan will cause another movement of money(the movement of money is the main thesis of the picture for the post), and given that China is the capital of Bitcoin, thenI decided to check: Are there any correlations between Bitcoin and Yuan? Well, you can see what I got on the graph. There is a correlation, but this correlation can also be made with the US Dollar Index, with the Euro, and so on.
Stock markets, American, Asian and so on, have a lower correlation with Yuan than Bitcoin.

❗️The illustration for the post once again shows us that now, PROBABLY we are on the verge of a change in trends.

?Green area - Bitcoin and Yuan are strengthening together
⚪️No shaded area - Bitcoin and Yuan weaken together
The blue zone is an anomaly, as Bitcoin rallied despite the DXY rally and the Yuan's decline.

P.S. Want more crazy ideas? Like the author. Here is my cart HERE</em>