Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative platform began offering Bitcoin in 2014, and at the time of writing mid 2018 eToro has 10 cryptos available to buy outright. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. The motto at eToro is Cryptos Neednt Be Cryptic and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. And to make trading even more straightforward eToro has two pioneering tools CopyTrader and CopyFund that are game-changers for crypto investors of all levels. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. Over time, and by monitoring the top traders strategies, eToro clients can build up their trading experience and confidence. The second allows users to diversify their portfolio

Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative platform began offering Bitcoin in 2014, and at the time of writing mid 2018 eToro has 10 cryptos available to buy outright. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. The motto at eToro is Cryptos Neednt Be Cryptic and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. And to make trading even more straightforward eToro has two pioneering tools CopyTrader and CopyFund that are game-changers for crypto investors of all levels. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. Over time, and by monitoring the top traders strategies, eToro clients can build up their trading experience and confidence. The second allows users to diversify their portfolio

Reading:ICOs Will Disappear In 2020 As Data Shows 95% Funding Decline

As economic tensions escalate and the Trump administration continues with its war on trade, China has started stockpiling safe-haven assets. Gold appears to be the asset of choice for the central bank but Bitcoin is likely to be a good option for the people.

According to aBloomberg reporttoday, China has stockpiled 100 tons of gold bullion adding to the accumulation it began in December.

Chinas gold-buying spree nears 100 tons as trade war drags

Bloomberg Markets (@markets)September 9, 2019

Data from the Peoples Bank of China indicates that it has increased its bullion holdings to 62.45 million ounces in August from 62.26 million in July. Last month almost 6 tons of gold was added to Chinas reserves which are now at around 100 tons accumulated over the past eight months.

As central banks cut interest rates in reaction to economic slowdowns, the price of gold inevitably increases. Russia has also been on a gold-buying spree as the US applied sanctions continue to hurt its economy.

As a result, the price of gold has increased by over 18% this year alone, and reached a six-year high of $1,550/oz last week according . The buying spree is set to continue, according to an economist at National Australia Bank Ltd., John Sharma, central banks now have an incentive to diversify.

Also, with increasing political and economic uncertainty prevailing, gold provides an ideal hedge, and will therefore be sought after by central banks globally.

Goldman Sachs Group is among investment banks that expect the precious metal to top $1,600 an ounce within the coming months.

The ongoing trade war has already affected the Chinese Yuan which has fallen to its lowest level against the dollar in over a decade. This has been observed with a negative correlation to theprice of bitcoinwhich has also fallen to a record low recently.

Bloomberg notedthe drop in a report last week suggesting that the digital gold is likely to become a hedge for the people as the national currency weakens. Other evidence of this is the BTC premium that can often be seen on exchanges catering to Chinese traders. London School of Economics researcher, Dr. Garrick Hileman, added;

You can see it in the premium price paid sometimes for Bitcoin in exchanges like Huobi that primarily cater to Chinese.

Recent protests in Hong Kong have also added to the lure of bitcoin as demonstrators attempted a run on Chinese banks. All indicators are pointing to further accumulation of BTC by the worlds largest population as its central bank loads up on gold.

Will Chinese demand for bitcoin push prices higher? Add your thoughts below.

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