比特币（BTC 3.02％）现在以约80,000美元的价格交易

比特币（BTC 3.02％）现在以约80,000美元左右的价格进行交易，但在正确的条件下，它可以飞到200,000美元或更多

The world’s second-largest economy may be setting the stage for a massive Bitcoin (BTC 3.02%) rally, if a pair of possibilities come to pass.

如果一对可能性通过，世界第二大经济体可能正在为大规模的比特币（BTC 3.02％）集会奠定基础。

China's economy is driven by its vast domestic market as well as its export-focused industries in electronics and machinery. For its domestic market to function smoothly, consumers need to be making money and spending it on Chinese-produced goods. If incomes are insufficient, or if people are reluctant to spend, the economy will not have enough demand for businesses to remain healthy.

中国的经济受到其广阔的国内市场以及以电子和机械为中心的出口行业的驱动。为了使其国内市场顺利运转，消费者需要赚钱并将其花在中国生产的商品上。如果收入不足，或者人们不愿花费，那么经济将没有足够的需求来保持健康。

It appears that the Chinese government is worried enough about that possibility to take action. Under a new policy package announced on March 16, building on previous proposals released during the past few months, the country will be raising its minimum wage and expanding its social safety net significantly, among other measures, in an attempt to increase consumer incomes.

看来中国政府对采取行动的可能性充满了担忧。根据3月16日宣布的新政策计划，基于过去几个月发布的先前提案，该国将提高其最低工资，并大大扩大其社会安全网络，以及其他措施，以增加消费者收入。

At the same time, China's central bank has stated that it may slash its main interest rate, reducing borrowing costs for businesses, and it may also inject liquidity directly into its financial system. Other measures intended to prop up the economy -- like issuing more debt, and running a bigger budget deficit -- are also in progress and may be expanded in time.

同时，中国中央银行表示，它可能会削减其主要利率，从而降低企业的借贷成本，并且也可以将流动性直接注入其金融体系。旨在提高经济的其他措施（例如发行更多的债务和更大的预算赤字）也正在进行中，并且可能会及时扩大。

So there will be a comprehensive set of new stimuli for China's economy. The push may or may not succeed in driving more domestic demand, but given the whole-economy approach, it is more likely to succeed than to fail. But how does any of that relate to Bitcoin?

因此，将为中国的经济提供一系列全面的刺激。推动力可能会或可能不会成功地推动更多的国内需求，但是鉴于整个经济学方法，更有可能成功的可能性而不是失败。但是，这与比特币有何关系？

After all, mining and trading cryptocurrencies, including Bitcoin, are officially banned in China. But as of late February, the highest judicial court in the country was discussing regulations pertaining to the legal status of cryptocurrencies and other digital assets.

毕竟，包括比特币在内的采矿和交易加密货币在中国被正式禁止。但是截至2月下旬，该国最高的司法法院正在讨论与加密货币和其他数字资产的法律地位有关的法规。

If those discussions ultimately lead to Bitcoin legalization (and they might), it would be a new catalyst for the coin. But if that legalization occurred precisely when people's incomes were rising rapidly, and when they were being encouraged by the government to both invest and consume, the positive impact on the coin's price might be even stronger, which is the upside possibility that's worth understanding here.

如果这些讨论最终导致比特币合法化（并且可能），那将是硬币的新催化剂。但是，如果这种合法化恰好发生在人们的收入迅速上升时，当政府鼓励他们投资和消费时，对硬币价格的积极影响可能会更加强大，这是值得理解的上升可能性。

That's especially plausible, because earlier this year, the government directed its pensions and mutual funds to invest more in domestic stocks to support prices. In other words, if Bitcoin is legalized and the government understands that its newly wealthier citizens are buying an asset, it could tell its businesses to buy the coin, too, to make sure that its price is supported. And that would send the coin even higher.

这尤其合理，因为今年早些时候，政府指示其养老金和共同基金投资于国内股票以支持价格。换句话说，如果比特币合法化并且政府知道其新富裕的公民正在购买资产，它也可以告诉企业也购买硬币，以确保其价格得到支持。这将使硬币更高。

For the moment, the above sequence of events is somewhere between a pipe dream and reality. But there's one other huge possibility that, if it happens, would make the first possibility much more likely, and also a more potent tailwind for the coin.

目前，上面的事件序列位于白日梦和现实之间。但是，如果发生的话，还有一个巨大的可能性将使第一可能的可能性更大，并且对硬币的逆风更加有效。

China may be considering or already is working toward forming a national Bitcoin repository, much as the U.S. now is with its plans for a Strategic Bitcoin Reserve. That's much more realistic than it sounds. More than 21% of the global mining capacity for Bitcoin is illicitly based in China.

中国可能正在考虑或已经在努力建立国家比特币存储库，就像美国现在有战略性比特币储备计划一样。这比听起来更现实。比特币全球采矿能力的21％以上是在中国非法的。

Therefore, if the country were to form a Bitcoin repository, it would be doing so as a way to back one of its domestic industries while supporting the value of the assets in its reserve. Under those conditions, it would not be surprising if companies were advised to retain some Bitcoin, create positive price pressure for the country's miners as well as (possibly) its newly invested citizens.

因此，如果该国要组建一个比特币存储库，那将是一种支持其一家国内行业的方式，同时支持其储备金中资产的价值。在这些条件下，如果建议公司保留一些比特币，为该国的矿工以及（可能）（可能）（可能）其新投资的公民造成正价压力，这并不奇怪。

And that would be a powerful set of interlinked drivers that could send Bitcoin's price to $200,000 or even higher.

这将是一组强大的相互联系的驾驶员，可以将比特币的价格提高到200,000美元甚至更高。

So, what should you do? Gradually accumulate and hold Bitcoin. It will be hard to go wrong if these possibilities end up playing out. Keep in mind that there is no guarantee that the government of China will actually move forward with legalization or its Bitcoin reserve -- but at the same time, recognize that the asset is worth buying even if neither of those possibilities actually happen.

那么，你该怎么办？逐渐积累并持有比特币。如果这些可能性最终发挥作用将很难出错。请记住，不能保证中国政府实际上将通过合法化或其比特币储备向前迈进 - 但与此同时，即使这些可能性实际上都没有发生，也要认识到资产值得购买。