China’s Margin Loan Bubble Puts Bitcoin Price Rally At Risk

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Bitcoin’s gains this week came on the back of a substantial equity rally led by the Chinese market. But the latest reports indicate that the CSI 300 index, a standard of country’s most significant stocks, climbed because of an increase in margin loans. That led to the speculation that China’s best bull run in the last five years could be a bubble. The analogy puts Bitcoin at risk of negating its recent gains in the coming sessions. Bitcoin is up 3.70 percent this week, but its price rally seemingly has lots of bearish cracks. The benchmark cryptocurrency has jumped in the absence of any solid catalyst. Traders continue to speculate on an extended bullish momentum based on technical anecdotes. Nevertheless, Bitcoin appears to have given up on indicators – and it seems more in the spell of a glowing risk-on sentiment. Booming Chinese Market At the start of this week,…

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