Lark Davis thinks that China’s liquidity pump in 2023 is not priced in. It also predicts rally for these altcoins. cryptocoin.com We have compiled the shares of analysts for you.
Investor awaits rally for altcoins
‘The Chinese liquidity pump of 2023 is not priced in IMO!’ he tweeted. As EOS struggles to break through the resistance range in early 2023, recent information shows China’s involvement in the EOS rally. On January 31, Davis stated that China has decided to tax crypto at a rate of 20% instead of pursuing a strict policy of banning crypto.
Therefore, a strong liquidity increase is expected from China and EOS is expected to take a significant share. Also, according to a ranking by the China Information and Industry Development Center, Chinese traders prefer EOS to other cryptocurrencies.
BTC price at one-year high
Bitcoin’s price entered the market by more than $100 billion last week, hitting a new annual high of $25,100. According to reliable sources, most of the recent acquisitions took place around the time Coinbase CEO Brian Armstrong tweeted the message about the launch of widespread cryptocurrency trading in Hong Kong.
While Armstrong’s tweet is undoubtedly not the catalyst for market growth, it does lend credence to the broader story that Asian nations are starting to view cryptocurrencies more positively. Experts remind that although Hong Kong will begin issuing cryptocurrency licenses to authorized institutional investors on June 1, retail cryptocurrency trading is still out of the question for regular Hong Kong residents.
Also, in an effort to boost the country’s weakening economic activity following a strict “zero Covid-19” policy.
At the same time that money started flowing into cryptocurrencies, the Chinese central bank injected nearly US$90 billion worth of new capital into local markets.
Also, on February 15, Hong Kong-based crypto firm Conflux (CFX) announced that it has launched a blockchain-based mobile SIM card in partnership with China Telcom. Since then, Conflux’s CFX token has surged 677% over the past month.
Altcoins that could benefit from the Chinese pump
Crypto analyst Andrew Kang listed altcoin projects that could stand out in the Chinese pump in his post on Twitter. However, cryptocurrencies are traded on Asian exchanges. These altcoins include Filecoin, Polkadot, VeChain, Eos, Internet Computer, Klaynt, BNB Coin and Ethereum.
Another crypto analyst and trader, Miles Deutscher, shared Chinese cryptocurrencies, saying he expects to win by June 2023.
As seen in the list above, Chinese coins in the top 100 cryptocurrencies by market cap are 76.45%, 26.54%, 29.50%, and 29.50% for holders of Filecoin (FIL), VeChain (VET), Neo (NEO), and Conflux (CFX), respectively. It earned 310.15.
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