‘Bullish For Bitcoin’: China Bank Bailouts Spark ‘Biggest Credit Bubble In History’

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Bitcoin could possible gain from economic uncertainty in China as one source describes the country’s third major bank bailout of 2019 as the world’s “biggest credit bubble.” China Bailouts: 3 Banks, $390 Billion Taking statistics from various sources, the Twitter cryptocurrency trader and commentator known as CryptoArbitrage noted that last week’s bailout of Heng Feng bank was the third involving assets over $200 billion. “Trillions tied up in state-owned banks that are loaned to state-owned enterprises. Biggest money printing in history. Biggest credit bubble in history,” they summarized. The 3rd 100bn+ bank bailout in China this year. Trillions tied up in state-owned banks that are loaned to state-owned enterprises. Biggest money printing in history. Biggest credit bubble in history. Could Hong Kong be their 'black swan'. Bursts = bullish for Bitcoin. pic.twitter.com/r0BV7osUBv — CryptoArbitrage (@CrytoArbitrage) August 14, 2019 Heng Feng, also known as Evergrowing Bank, has agreed to a Chinese…

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