Arthur Hayes, founder of BitMEX, wrote that the Chinese are among the wisest people on earth. They will not allow their savings to sit idle. China's stimulus measures will inject a lot of money into financial markets and drive up cryptocurrencies.
However, quantitative easing by the People's Bank of China and the re-acceleration of bank credit growth will take time. In these early stages, the reaction of Chinese savers is what I expected: buying oversold domestic stocks and apartments. But give it some time, and the impact will be undeniable, which actually provides an excellent buying opportunity.