[Warning] High Crypto Volatility coming!

Machairodont

Machairodont

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Hey guys,

be aware that Chinese Evergrande is about to default (go bankrupt) as they have missed a last minute payment of a 30 month grace period.
Investors are about to fill bankruptcy claim against Evergrande.

This for sure will cause high volatility in all markets, crypto included. Gold has already reacted yesterday on that concern.
Not sure if it will push crypto up or down, so if you want to be on the secure side, take a step out.

Cheers
 
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Hmmm... thank you for the post. Now, I know crypto has been stable and only NOW it'll become volatile.
 
Evergrande will fall apart slowly, not all at once
 
Machairodont said:
Hey guys,

be aware that Chinese Evergrande is about to default (go bankrupt) as they have missed a last minute payment of a 30 month grace period.
Investors are about to fill bankruptcy claim against Evergrande.

This for sure will cause high volatility in all markets, crypto included. Gold has already reacted yesterday on that concern.
Not sure if it will push crypto up or down, so if you want to be on the secure side, take a step out.

Cheers
Click to expand...
Is this some new update? I thought they already paid it few weeks ago
 
RoiBox said:
https://www.france24.com/en/busines...eets-interest-payment-deadline-avoids-default
Click to expand...
Thanks @RoiBox

Got my news from here:
https://www.express.co.uk/finance/c...ina-evergrande-collapse-china-property-market
but seems your source is one day later... not sure now if this is referring the same... anyway they need to pay a lot of cash until end of 2021.
And in early 2022 there will be very big payment that they will fail to pay nearly for sure.

Need to check for more accurate sources right now.
 
Machairodont said:
anyway they need to pay a lot of cash until end of 2021
Click to expand...
Yes, I think I´ve seen numbers of around $250M or something like that, to be paid before the 28 of December 2021 for the next payment.
 
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