The "Apocalypse" is postponed.

How can the crypto-currency market benefit by rescuing China?

Chinese real estate giant Evergrande has defaulted on its debt, and fears of defaulting on the company have led to a collective collapse in the world of financial markets worldwide.

 Many believe that the recession in the crypto-currency market last week was also affected by investors who rushed to liquidate their cryptocurrencies. However, the People's Bank of China injected liquidity ¥ 120 billion (almost $ 19 billion) into the banking system to rescue the Evergrande.

Sorry to be the guy who asks the awkward question but... when can we expect to see China bailout Evergrande and pump the market?

— The Wolf Of All Streets (@scottmelker) September 20, 2021

Evergrande bankruptcy could prove costly for China, and many experts have predicted that the country will do everything in its power to stop Evergrande's failure. 

 Their predictions are coming true.

 With Evergrande looking at the bailout scenario, the cryptocurrency market could see a bearish reversal from bearish to bullish.

China's central bank injects 120 billion yuan ($18.6 billion) into the banking system after concern over a debt crisis at Evergrande roiled global markets https://t.co/U75QYOkie6

— Bloomberg Economics (@economics) September 22, 2021 

This article is for informational purposes only and does not replace specialized consulting services with professional experts.