Bitcoin's price can be affected by macroeconomic events. Those longer in the market remember the so-called Cyprus bubble in 2013, during which BTC was rising while the banking system in Cyprus was going through a crisis in the background. Now, further increases may be influenced by central bank policies. Recently, the Fed announced its second interest rate cut. It was aimed at lowering the dollar as part of the trade war between the US and China. Now it appears that China too will probably lead to inflation of its currency. Bitcoin exchange rate and Chinese printing China has not remained passive to the economic rivalry that has been started hard by the United States. Their market has been hit hard by the successively imposed tariffs. Huawei's founder and chief executive, Ren Zhengfei, claims that his company alone has lost as much as $30 billion in revenue because of it. Now eight major tech companies have been blacklisted by the US for this. The official reason is the role they have played in violating the rights of ethnic minorities in China. However, it is probably just to deal a knee-jerk blow to the Middle Kingdom. In response came the reaction of China's central bank. The institution pumped nearly $30 billion into the economy. Why? Reportedly, it registered a slowdown in the internal market. Bloomberg reports that the addition is now taking place by transferring such large amounts to commercial banks. "Presumably, they want to increase long-term liquidity to ensure sufficient supply for the mid-October tax payment season and to support the economy, which is still struggling with growth pressures." - Becky Liu, head of China macro strategy at Standard Chartered Plc, describes the authorities' move to the media. Will this decision now affect Bitcoin's exchange rate? It may do so, because the surpluses can go to different markets - stocks, bullion or just cryptocurrencies. The latter are banned in China, but the country's citizens circumvent these regulations. Additionally, external companies help them in this process. For example, the Chinese use Tether to buy BTC. In addition, Binance wants to allow the country's citizens to buy cryptocurrency using WeChat and AliPay. You can always check the current exchange rate of bitcoin and other cryptocurrencies in the tabs: bitcoin exchange rate and cryptocurrency exchange rate at bitcoin.co.uk. Places where you can buy Bitcoin and other cryptocurrencies include BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags btc price bitcoin price china bitcoin bitcoin exchange rate bitcoin exchange rate btc exchange rate trade war
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