Bitcoin prices surged 3.4% to $10,500 as China's GDP growth rate came in at 6.4% in the fourth quarter, beating estimates. The increase in GDP has also lifted the prices of Nasdaq futures and Korea's Kospi. Falling oil prices have added to the positive sentiment. The stronger-than-expected economic growth has boosted investor confidence in riskier assets. The rally in global markets is a sign that investors are regaining their appetite for risk after a period of caution.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
The China GDP growth rate has been a closely watched indicator, and the strong result has been seen as a positive sign for the global economy.