Chinese media praises crypto performance

The source of the new addresses cannot be determined with certainty. China, however, forms Garner’s best bet, as a widely-reported media campaign in the last week of September called cryptocurrency the best-performing asset of 2020.

“Last week the Chinese government began a coordinated marketing campaign to focus Chinese retail investor psyche on crypto. Yes, this is really happening,” wrote in a further tweet.

The move also caught the attention of Primitive founding partner Dovey Wan, who described the Chinese state media campaign as “curious.”

“It’s rare for such a coordinated effort,” she commented at the time.

China has traditionally been seen as a hostile environment when it comes to consumers’ ability to engage with cryptocurrency. A ban from 2017 still remains in place, with transactions confined to over-the-counter, or OTC trades, despite mining activities openly continuing.

As Cointelegraph reported, meanwhile, bullish on-chain metrics for Bitcoin keep multiplying, with Woo among those calling for a breakout independent of traditional assets, notably gold, in the near future.

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