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Bitcoin Price Tops $5.9K as Fed Cuts Interest Rates to 0%, Restarts QE
Bitcoin price rallied to $5,9540 as the U.S. Federal Reserve cut interest rates to 0% and unveiled a massive stimulus package involving $700 billion in QE. Bitcoin and altcoins benefit from the Federal Reserve’s attempt to combat the economic downturn brought about by COVID-19 The surge in price occurred shortly after the U.S. Federal Reserve announced that it would cut interest rates to 0%, launch a $700 billion quantitative easing program, and the regulator provided additional details about the type of securities it would purchase. The massive stimulus package is designed to combat the market turmoil brought ... (full story)
