Expert Comments on Evergrande Crisis: What Will Happen to the Cryptocurrency Industry?

Construction giant Evergarnde, one of China’s largest companies, seems to have been hit by a debt deluge of $305 billion. This company’s $305 billion debt and its inability to pay it may affect the whole of China, and subsequently the entire global economy. The bankruptcy of the company or its bailout by China carries different risks.

How Does the Evergrande Incident End?

Rumors that the company will go bankrupt have echoed not only in the crypto money industry, but also in all global markets, and there is an earthquake in all markets. Analysts, on the other hand, have uncertainty about what awaits the markets with such a situation. Some signal a solid bearish, while others signal a buy from the bottom.

Evergrande’s current life is compared to the Lehman Brothers company in 2008, and the company triggered a 600 billion dollar debt cycle, leading to the birth of Bitcoin. Ray Dalio, one of the most famous investors in the world, made a statement on the subject and emphasized that the Evergrande incident was not very important and that it was a manageable debt. With this statement, Dalio actually gave a bottom buy signal to investors in all markets.

Stating that the Lehman Brothers incident caused permanent damage to the treasury, Dalio emphasized that this would not be the case for China. Ming Tan, one of the S&P executives, stated that China will take steps to re-establish Evergrande and that this debt will be paid off. But of course there are those who disagree, and Great American Mining co-founder Marty Bent warned of a major crisis, urging everyone to rush to safe investments.

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