Is China About to Lift Crypto Ban Leading Analyst Recommends Altcoins to Stack Before Huge Increase in Capital influx
Twitter is abuzz with rumors of China potentially lifting its ban on cryptocurrencies. Tech innovator Kyle Chasse made a social media announcement revealing that Bybit is now allowing Chinese users to register on their platform. This is a significant shift as the third-largest offshore exchange had previously barred Chinese users from accessing their services.
In a surprising turn of events, Bybit has opened registration and authentication for users in China, hinting at a possible unbanning of crypto in the country. This news, shared by Kyle Chasse on Twitter, has generated a wave of optimism among investors.
Financial analyst Dylan, speaking on the Crypto Banter channel, discussed the implications of China potentially unbanning crypto. The decision by Bybit to allow Chinese users to register and trade on their platform is seen as a positive development that could boost various cryptocurrencies, particularly altcoins.
Dylan highlighted NEO as a cryptocurrency that could benefit from China’s changing stance on crypto. He pointed out that NEO had experienced a significant price increase recently, coinciding with positive news from China. This uptrend could continue if NEO gains momentum.
VET is another cryptocurrency that Dylan believes could see significant gains following China’s possible unbanning of crypto. He predicted a 10% increase in the short term, followed by an 18% move, making it an attractive investment opportunity.
CFX, a Chinese narrative token, also caught Dylan’s attention as it broke above its 50-day moving average. This technical indicator, combined with positive news, could lead to a notable upward trend for CFX.
Lastly, Dylan briefly mentioned XIBA, a new meme coin inspired by Shiba Inu. Despite its modest beginnings, XIBA has shown impressive growth potential, with its market cap increasing significantly. If the Chinese narrative around XIBA continues, further growth could be on the horizon.
Overall, the potential unbanning of crypto in China has sparked a surge of optimism among investors, particularly in altcoins like NEO, VET, CFX, and XIBA. The market is closely watching these developments for potential investment opportunities.