Huge news the People's Bank of China has announced a 1.2 trillion injection of money into the economy this is the largest single-day injection since 2004
why are they doing this well the Chinese stock market is completely collapsing right now we have seen this huge one-day plunge I want to talk about that and I also want to explain to you why this specific chart is showing us that Bitcoin is looking more and more bullish right now
This chart has started to really take off to the upside I want to show you exactly where the potential resistance is in eth.
bitcoin is looking more and more bullish as these weekly candles continue to climb to the upside and we are now decisively above the 20 week moving average which is this purple or pink line and this is a moving average that I've been reporting on for a couple of years because this is maybe the most important moving average in Bitcoin history.
when you look at the major turning points that come from breaking below it right there that was the initiation of this bear market
Bitcoin does not have a marketing team but Bitcoin can still thrive because Bitcoin is so revolutionary and so valuable and so important that it is self-sustaining not only on a fundamental level but also when it comes to marketing itself it can it will thrive by itself simply because of the fact that people enjoy it and love it and it works and it will change the world so that is why I do actually believe that the fact that Bitcoin got its emoji is a major event.
People's Bank of China they have been preparing for a market crash on Monday today and this is why they are injecting this 1.2 trillion yuan into the economy to cushion the shock to financial markets from the outbreak of this coronavirus so that's the story everyone has been expecting a market crash in the Chinese stock market so let's take a look at this SSE composite index
Chinese stock markets are crashing right now we are also seeing the US stock market this is the S&P 500 has also been coming down so globally we are seeing stocks going down and people are blaming this coronavirus
People will blame the coronavirus but the fundamental reason for the financial crisis that is coming is due to the central banking system.
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