While it was being talked about that the measures taken by China against its fiat currency, Yuan, could lead to sales pressure on Bitcoin, positive news came.
According to the news made by Reuters on January 23, Chinese state banks began to tighten liquidity in the foreign exchange market in order to support the Yuan. With this move, risk assets such as Bitcoin There may be selling pressure had come to the fore.
However, according to Bloomberg today, Pan Gongsheng, governor of the Central Bank of China, said China wants to leave more money alone and support the economy. reserve requirements of banks for the purpose of He said he would reduce the rate.
Pan also told the press that banks have to keep reserves cash rate will be reduced gave place.
With this development, the market 139 billion dollars Long-term liquidity will be provided.
This step taken by China Bitcoin It is thought that the selling pressure on risk assets such as will decrease.