China’s Underwhelming Economic Stimulus May Drive Investors Back Into Crypto, QCP Capital Says
The Chinese government’s failure to introduce more economic stimulus at its latest briefing today could lead to investors returning to the crypto market, QCP Capital said. “The rally in Chinese stocks fizzled following their week-long holiday as a government briefing failed to introduce new economic stimulus,” QCP said in an Oct. 8 post. “ As the Chinese rally wanes, we anticipate capital reallocation back into crypto.” The investment firm added that it maintains a “medium-term optimistic stance” towards the crypto market and predicted that US election headlines will continue “driving crypto movement.” Chinese Stocks Tumble Due To Lack Of Economic Stimulus Updates Chinese investors anticipated that the National Development and Reform Commission (NDRC) would outline additional stimulus measures in a briefing today following the Chinese Golden Week holiday. But with no new stimulus plans unveiled and the perception of a la...