Experts are predicting that cryptocurrencies are poised to continue higher in the fourth quarter of this year as investors shake off the collapses and sentiment of the first six months. These were the words of Sun Zeyu of Hong Kong based investment firm Genesis Capital in an interview with Tencent Technology according to Hacked.
News out of China usually has a negative impact on cryptocurrency markets. The government has made its stance on cryptos very clear: it doesn’t like them and will not tolerate them. The people however, and there are a lot of them, are hungry for crypto and Chinese investors could spark the next big bull run.
This would result in a “crypto bull market may be far beyond our imagination” according to Gao Kangdi of Metropolis VC. All of this bullish sentiment comes despite the constant crackdowns by China’s draconian ruling party.
The city state is now home to thousands of token investment fund foundations setup by Chinese nationals. Singapore has emerged as one of the more favourable nations for ICOs and regulators have lowered the requirements to setup blockchain based exchanges in the country.
China’s crypto analysts believe that growing global financial instability and the possibility of US incited trade wars in the region could be the catalyst for greater crypto investment. Bitcoin and cryptocurrencies are a natural alternatives to government regulated stocks and bonds since they are decentralized.