Altcoins could surge if China rolls out economic stimulus, analysts say

An altcoin rally could be on the horizon if China’s central bank rolls out an economic stimulus package, according to a Cointelegraph analysis. The report said China’s monetary policy plays a key role in global liquidity, with the country accounting for 19.5% of world GDP. Speculation over possible stimulus has been building after weak July data showed retail sales slipped 0.1% from the prior month, industrial output growth increased by 0.4% and unemployment ticked up to 5.2%. Cointelegraph, citing Bloomberg Economics analysts, noted the People’s Bank of China could introduce measures as early as September. A liquidity boost from Beijing would likely spill over into risk assets such as cryptocurrencies, potentially pushing them toward new highs.