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Bitcoin sees gains and reason the US Central Bank

2019-06-26 02:36 pm | Resource: News Section | No Views : 94

Bitcoin sees gains and reason the US Central Bank Deutsche Bank chief executive Jim Reed said one of the reasons for the recent increase in Bitcoin (BTC) price was the reduction in the US Federal Reserve's potential interest rate.
This came during an interview with CNBC on Wednesday, July 26, in which it confirmed that:
"If central banks become aggressive, digital currencies are beginning to become more attractive."
Reid referred to a speech by Federal Reserve Chairman Jerome Powell, who said yesterday that the central bank is considering cutting interest rates amid current economic instability and inflation risks. As such, the greenback fell against major currencies yesterday, hitting a three-month low against the euro, which was allegedly triggered by expectations of lower interest rates by the Federal Reserve.
At the same time, Bitcoin continued to record new records in 2019 to exceed $ 12,000, while the market value of more than $ 220 billion increased by a dominance rate of more than 60% for the first time since April 2017, as reported earlier today.
Reed also pointed out that the recent rise in digital currency prices is partly due to the upcoming Libra digital networking project Facebook, which was released earlier on June 18 next year.
In the interview, Reid repeated his negative attitude toward the easing of practices by central banks, having previously claimed that the currency-based currency system was unstable and nearing its end.
When he made his remarks again in November 2017, following the high BTC record of $ 20,000 in December 2017, Reid criticized the continued printing of funds by banks, warning that this could lead to the end of paper money.
But the United States is not alone. In recent weeks, ECB President Mario Draghi has also hinted at further cuts in interest rates.
Paradoxically, Deutsche Bank itself can be partly attributed to the weak economy. The bank's stock has fallen to record levels last year, and Bitcoin seems to be stronger than ever.

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