country flagالعربية

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.

Other news

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.