It is quite normal for financial moves made by China to have a negative effect on the cryptocurrency sector. The reason for this is not far-fetched; it is crystal clear that the Chinese government is not in support of cryptocurrency and everything that is associated with it. The Chinese government has placed a ban on cryptocurrency and all cryptocurrency related activities in China, and as at the time of writing this article, that ban still stands. The Chinese government might be anti-crypto. In spite of this, lots of Chinese investors are interested in cryptocurrency. Although this is in contrast to the position of the Chinese government on cryptocurrency, there is likelihood that the next cryptocurrency Bull Run will be championed by Chinese crypto investors.
Cryptocurrencies might not be faring very well in the world at the moment. Regardless of this, it has been predicted that all this will change in the last quarter of this year. Although this seems very unlikely, there are factors that will bring about this change. Let’s find out some of them.
The Proximity of Singapore to China
According to experts in the cryptocurrency sector, cryptocurrency enthusiasts from China will play a major part in the “fifth wave” of the market advancement. This occurrence will lead to a crypto bull market that will be way more than everyone is expecting. Although the Chinese ruling party is not in support of this, it won’t be able to pose a hindrance to it.
There are quite some reasons for this; however, one major reason for this is the presence of an established cryptocurrency environment in Singapore. At the moment, Singapore plays host to a lot of token investment fund foundations that were established by Chinese citizens. Also, Singapore provides one of the best environments for ICOs. In addition to this, regulators in Singapore have greatly reduced the requirements that are needed to establish Blockchain based exchanges.
Whilst all these are taking place in Singapore, it might appear they will all start and end in Singapore. However, the truth is the close proximity between China and Singapore will always be an impact felt in China by cryptocurrency activities that go on in Singapore.
Global Financial Instability Will Make China to Champion the next Cryptocurrency Bull Run
In recent times, there has been a steady increase in financial instability around the world. This instability, coupled with the United States stimulated trade conflict might be the much-needed catalyst that will encourage an increase in cryptocurrency investments in China. As the trouble that is being experienced in the stock market continues, investors will seek for new alternatives, thereby leading to an investment in cryptocurrencies. This is believed will champion the next cryptocurrency bull run.