How could the Chinese economic crisis impact Bitcoin and crypto?

📆 6/26/2023 4:09 PM
📰 Cointelegraph

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Cointelegraph Macro Markets 🎥Ep17: Marcel Pechman explains how China’s economic weakness and Turkey’s interest rate hikes could impact the cryptocurrency market.

, analyst Marcel Pechman explores how Turkey’s recent interest rate increase might attract hundreds of millions of new cryptocurrency investors, and how China’s looming economic crisis could affect Bitcoin and crypto globally.

According to Pechman, whether the U.S. dollar holds its dominant position as a global reserve currency doesn’t matter. Turkey and Argentina’s 70% inflation in 2022 are perfect examples of how decentralized cryptocurrencies might be the sole lifeguard for hundreds of millions — if not billions — of people who cannot save and transact in foreign currencies.

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