China is Bullish on Cryptocurrencies | ETF Trends

Among the primary hurdles faced by cryptocurrencies, including bitcoin, are adoption trends and reluctance of long-term investors to embrace the asset class. Chinese investors could change that.

Among the issues plaguing bitcoin this year are the ongoing unwillingness of U.S. regulators to approve bitcoin-related exchange traded funds as well as data indicating that mainstream acceptance and adoption of the digital currency are declining.

“A remarkable 82.81 percent of Chinese polled think buying cryptocurrencies is a trendy investment and 40 percent say they would like to invest in cryptos in the future despite the current bearish market, a survey by a local crypto news media PANews found,” reports 8BTC.

Other data points from the survey augur well for digital assets in China.