Crypto:
31594
Bitcoin:
$62.226
% 1.27
BTC Dominance:
%56.9
% 0.17
Market Cap:
$2.17 T
% 3.11
Fear & Greed:
41 / 100
Bitcoin:
$ 62.226
BTC Dominance:
% 56.9
Market Cap:
$2.17 T

Bitcoin Faces a New Threat from China!

Bitcoin

Crypto analyst Wise Advice has raised concerns about a looming challenge for global markets, including Bitcoin (BTC).

Issuing a warning that “a financial collapse worse than previous ones may be on the horizon,” Advice pointed out that China should be closely monitored in this regard.

According to the analyst, a potential crisis in China’s real estate market could overshadow the Federal Reserve’s rate cuts or even Donald Trump’s potential election victory.

Bitcoin braces for the worst In a recent post on X (formerly Twitter), Wise Advice highlighted a new risk looming over Bitcoin (BTC).

China’s real estate inventories have plummeted to their lowest levels since 2008. With the country’s real estate sector accounting for over 18% of global GDP, Advice believes this significant proportion heightens the risks.

The analyst commented:

“We’ve overcome challenges like Grayscale, Mt. Gox, the German government, and the Japanese stock market crash, but now there’s something brewing that could trigger further declines.”

Advice emphasized that many U.S. companies and banks have direct exposure to China’s real estate market, suggesting that the potential crisis in China could negatively impact U.S. stocks. He also warned that Bitcoin (BTC) might not escape unscathed from this fallout.

However, Advice remains optimistic about the long-term outlook, claiming that any downturn caused by China’s real estate market would be short-lived. “In the long run, BTC and crypto will only rise,” he said. The analyst also suggested that a potential collapse in the U.S. markets could lead the government to ramp up money printing efforts.

According to CoinGecko, BTC recorded a trading volume of $31.5 billion in the last 24 hours.

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