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Why QE will drive up price of bitcoin: analyst

From asiatimes.com

An eToro analyst and cryptocurrency expert has described the potential impact of the Federal Reserve’s QE on bitcoin, Coin Rivet reported. On Monday the Federal Reserve announced a plan to unleash “unlimited quantitative easing” to boost the US economy after its coronavirus-related plunge. Understandably, this had a huge impact on all global markets, with the S&P500 rallying by 7.75% from a low of 2169.5. Bitcoin also experienced a boost at the hands of the Federal Reserve as it surged significantly on Monday with continuation going into Tuesday. “Bitcoin rose by 11% yesterday, currently at around $6,700, ... (full story)

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  • Category: Fundamental Analysis