Bitcoin at $48K – “Lehman Brothers Moment” for China?
Bitcoin over $48K this morning – is China’s “Lehman Brothers moment” good for Bitcoin?
BTC holds $48K as Evergrande forms ‘Lehman Brothers moment’ for China
“Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near the $48,000 mark Thursday.
While progress toward $50,000 was less decisive, analysts were broadly hopeful that a debt crisis at China’s second-largest real estate developer would provide much-needed confidence.
Evergrande Real Estate Group (3333.HK) suspended bond trading Thursday, the latest episode in a saga that saw the giant receive multiple ratings cuts.
With $300 billion at stake, comparisons to the 2008 global financial crisis were quick to emerge.
‘China’s Lehman moment. The money printing will be massive, I repeat MASSIVE!’ PlanB, creator of the stock-to-flow family of Bitcoin price models, told Twitter followers.
‘This is good for Bitcoin.’”