Bitcoin (BTC) News Today: Over the past couple of months, the focus of many Bitcoin (BTC) and crypto traders have been on the Federal Reserve. Bitcoin has been the center of attraction in the crypto market for several years now. Even in the midst of the Crypto Winter late last year and early this year, many still consider it as the best cryptocurrency to invest in 2019. However, many investors and traders out there want more. They are pushing for the global recognition and adoption of the coin.
Bitcoin News Today: Federal Reserve Is Expected to Cut Rates Into 2020 – BTC latest update – Cryptocurrency News Today
This past weekend saw the gathering of central bankers across the globe and other economic experts in Wyoming. These financial specialists came together to talk about monetary policy and even digital currency. The European Central Bank, the Bank of England, and other financial authorities were poised to reduce interest rates. However, the Federal Reserve does not seem to be on this league, as there were mixed signals emanating from its camp.
In a previous meeting, the economists of the FED were reported to be divided. Some of them were of the opinion that the interest rate should be cut down. Whereas, others were pushing for no change. However, there ought to be an interest rate cut in the market this September, according to the pre-defined rate cut probability by the Fed Funds futures. The futures are expecting the reduction on interest rate into next year.
Bitcoin News Today: Reduction of Interest Rate Guarantees Bitcoin Bull Run into 2020 – BTC Latest Update – Crypto Market Update
Via a tweet, Joe McCann said that this rate reduction probability matrix has guaranteed the next massive bull run of Bitcoin into 2020. Joe McCann is a prominent digital currency content creator and technical analyst. How? Well, here is how. Lower interest rates pump in liquidity into the economy. When this happens, investors usually take risks and invest in alternative assets with less opportunity cost.
In an interview with Fox Business last month, Tom Lee – co-founder of Fundstrat Global Advisor – said:
“Bitcoin (BTC) is increasingly becoming a macro hedge for investors against things that could go wrong. Rate cuts are injecting liquidity into the market. Liquidity is pushing money into all these risk assets and also hedges, which is helping Bitcoin (BTC).”
Bitcoin (BTC) Price Today – BTC / USD
This is a very good piece of news for many digital asset investors in the crypto space. A massive boost in the price of Bitcoin is what many have been waiting for. This could also pioneer the entrance and return of more digital asset investors into the crypto market.