3 Reasons Why Bitcoin Price is Bullish Right Now

3 Reasons Why Bitcoin Price is Bullish Right Now
фото показано с : bitcoinist.com

2020-3-25 16:00

Bitcoin price has jumped over 15% during the last 24 hours, currently trading above $6,700. Here are three main reasons behind the surge: Congress Discuss Digital Dollar by Fed to Fight Crisis House Democrats proposed two bills that revolve around the creation of a digital dollar and digital wallets, so that the Federal Reserve (Fed) could transfer digital cash directly to individuals and businesses. The move is meant to support the economy amid the COVID-19 pandemic, as the US is only after China and Italy by the number of confirmed cases. The draft bills are called “Take Responsibility for Workers and Families Act” and the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act.” According to authors of the legislation, the Fed would use a digital USD and digital wallets to transfer money to “qualified individuals,” which amount $1,000 for minors and $2,000 for adults. Both draft documents use the same definition for the digital dollar: The term ‘digital dollar’ shall mean a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve bank; or an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System). The law might be supported by Congress, and the Fed wouldn’t mind since it previously admitted that it was thinking about issuing a digital currency. Fed Pumping Unlimited Cash; Stocks, Bitcoin React Yesterday, the Fed surprised the market when it announced its unlimited support for the economy. Besides buying more Treasuries and mortgage-backed securities, the central bank would also buy corporate bonds and related exchange-traded funds (ETFs). Johnny Fine, Goldman Sachs’ head of Investment Grade Bonds told CNBC: This is unprecedented action by the Fed. Wow. The Fed will be buying investment grade corp bond #ETFs like presumably $LQD $VCIT $SPIB. These funds have diversification and liquidity but demand for underlying bonds has weakened. This is a whole new world. https://t.co/LflFWLGOiX — Todd Rosenbluth (@ToddCFRA) March 23, 2020 The Fed will buy corporate bonds under a program called the Secondary Market Corporate Credit Facility. The Fed’s unlimited quantitative easing boosted stock markets, which encouraged many institutional investors to look through other assets, including Bitcoin. China Has Almost Beaten COVID; Potential Cure Tested Worldwide China has reported zero local cases for several days in a row, though the number of imported cases increases. Nevertheless, businesses in many regions are reviving. However, many are skeptical of China’s reporting, and there are concerns that the imported cases might spark another wave. Another sign of hope is the antimalarial drug called hydroxychloroquine, which was recently touted by US President Donald Trump. The drug, which has been around for over 70 years, has been successfully used against COVID-19 in many hospitals in China, South Korea, and in France. However, many experts warn that the drug and its predecessor, chloroquine, haven’t been officially approved as a COVID treatment. Moreover, several people got poisoned and even died of overdose by taking chloroquine after Trump’s comments. While the drug is known to have potentially severe side effects especially when the dosage is ignored, many trials have already started in Europe as it is among few medications that showed impressive results against the new coronavirus. Do you think Bitcoin can break above $7,000 soon? Share your expectations in the comments section! Images via Shutterstock, Twitter @ToddCFRA

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digital fed → Результатов: 67


Фото:

Former U.S. Fed Chairman Alan Greenspan Discusses Digital Currencies and Libra

Alan Greenspan, the second longest-serving chairman of the Federal Reserve, has denounced sovereign digital currencies as pointless at an economic conference in China. According to CNBC, Greenspan also criticized Facebook by claiming that the sovereign credit of the United States was stronger than anything Facebook could create or imagine, November 12, 2019.

2019-11-13 18:00


Dallas Fed Reserve President Weighs In On Releasing A Digital Currency As A Hedge For Dollar Value

Rob Kaplan, President of the Fed Reserve in Dallas, and a former executive at Goldman Sachs is the latest to come out in support of digital currency. This comes at a time when regulators are keenly looking into how cryptocurrencies like Bitcoin and Libra might disrupt the financial systems. While speaking at an event in […]

2019-10-17 18:43


Former FDIC Chair Called Out Subprime Mortgages Ahead of Issues; Now Tells FED To Look At CBDC’s

Members of the US Congress the French Hill (R-Arkansas) and Bill Foster (D-Illinois) have recommended the Federal Reserve regarding issuing a digital version of the US dollar. In a letter addressed to the Fed, they highlighted that the country’s currency is in long term danger due to the acceptance of digital fiat currency. Sheila Bair, […]

2019-10-7 21:59


Глава ФРС: потребители не предъявляют спрос на цифровые валюты центробанков

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2019-9-7 19:43


Federal Reserve Chair Jerome Powell Talks About Demand Of Central Bank Digital Currencies

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2019-9-7 03:03


Брайан Келли: ФРС США не сможет поставить преграду для Bitcoin. Что нас ждет — мнение аналитика

Известный криптовалютный аналитик, основатель BKCM Digital Assets Брайан Келли, полагает, что у ФРС США, то есть центрального банка самой крупной экономики мира, никогда не появится возможности полностью «закрыть» функционирование Bitcoin.

2019-8-10 14:26


Bitcoin Is A “Store of Value” Like Gold: The US Federal Reserve Chairman

Yesterday has been quite a historic day for the bitcoin and cryptocurrencies as the Fed and President of the US both talked about digital currencies. The Validation Of The Highest Order While answering questions before the Banking Senate Committee on Thursday, Jerome Powell was asked if a cryptocurrency system became prevalent throughout the globe, would […]

2019-7-12 16:01


Gold Beats Bitcoin as Fed Chair Powell Finalizes Dovish Pivot

Monetary policy may or may not have a direct impact on bitcoin, but the US Federal Reserve's dovish pivot is helping gold regain a bit of shine from its digital counterpart. The precious metal popped to its weekly high today, extending gains from the previous session after Federal Reserve Chairman Jerome Powell appeared to set […] The post Gold Beats Bitcoin as Fed Chair Powell Finalizes Dovish Pivot appeared first on CCN Markets

2019-7-12 21:02


Donald Trump and Fed Chairman Distrust is Bullish for Bitcoin: Billionaire Investor

Bitcoin is going to benefit from the growing distrust between the US President Donald Trump and Federal Reserve Chairman Jerome Powell, believes Mr. Michael Novogratz of Galaxy Digital, LLC. The billionaire founder said on Wednesday that he is becoming “more bullish” on bitcoin after President Trump reportedly threatened to demote Mr.

2019-6-19 18:44


Michael Novogratz Says POTUS Trump’s Economic Policies Make Him More Bullish About Bitcoin

In a recent Tweet, the recognized investor and founder of Galaxy Digital said that economic policies make him more bullish about Bitcoin (BTC) and digital currencies. There are several US leaders, including President Donald Trump and Vice President Michael Pence that suggest that the Federal Reserve (FED) should cut interest rates even further for the […]

2019-5-5 17:55


Ron Paul Advocates for Cryptocurrencies to be Tax-Free While Criticizing US Fed

Ron Paul, the Austrian School economist and notable Libertarian who served as a US Representative for over ten years, is now advocating for a tax exemption on cryptocurrencies. He also noted that the issuance of a government-backed digital currency, as opposed to private or decentralized ones, could lead to a “Fed-created recession.

2018-10-31 07:00


Фото:

Bitcoin and Other Cryptocurrencies Not Significant Threats – Says US Federal Reserve Chairman

While a good number of central banks see bitcoin and other cryptocurrencies as significant threats to their survival, the United States Federal Reserve Chairman, Jerome Powell, said on July 18, 2018, that the exponential growth in the price of bitcoin and the increasing adoption of cryptos doesn’t bother him.

2018-7-21 13:00