RATE Group | Fed’s Unlimited QE Places Spotlight on Bitcoin Store-of-Value Narrative
84227
post-template-default,single,single-post,postid-84227,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Fed’s Unlimited QE Places Spotlight on Bitcoin Store-of-Value Narrative

26 Mar Fed’s Unlimited QE Places Spotlight on Bitcoin Store-of-Value Narrative

Posted at 03:40h in Bitcoin News by

[ad_1]

As the COVID-19 pandemic continues to unfold with dire consequences across the globe, desperate measures to keep the economy afloat continue to be taken by world governments. Currently the most notable example is the U.S., which recently announced an unlimited quantitative easing program and also reached an agreement for a $2 trillion stimulus package.

The unlimited quantitative easing process will entail the Federal Reserve purchasing assets “in the amounts needed to support smooth market functioning” and after the announcement was made Bitcoin (BTC) price rallied almost 10% from $6,300 to $6,900. 

At the moment, Bitcoin has dropped to $6,630 and crypto markets have remained fairly stable throughout the day.

Crypto market data. Source: Coin360

Gold and silver have also recovered after several days of losses. Gold price dropped by more than 12% in 10 days but has since recovered to the $1,620-$1,680 price range seen between February 20 and March 9. 

SILVER USD/m2 chart. Source:

[ad_2]

Source link

Tags:
, , , , , , ,