{"id":238070,"date":"2019-09-23T12:39:59","date_gmt":"2019-09-23T16:39:59","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=238070"},"modified":"2021-08-30T03:36:37","modified_gmt":"2021-08-30T07:36:37","slug":"ecbs-interest-rates-drop-bitcoin-climbs-higher","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ecbs-interest-rates-drop-bitcoin-climbs-higher","title":{"rendered":"ECB\u2019s interest rates drop: Bitcoin climbs higher"},"content":{"rendered":"

Central Banks Inject Liquidity into the Economy<\/strong><\/p>\n

The value of Bitcoin (BTC) climbed higher as central banks made a move which analysts liken to a currency devaluation race.<\/p>\n

The European central bank also made a move which is believed by many to skyrocket Bitcoin prices.<\/p>\n

The move made by the European central bank by slashing its interest rate on deposits to -0.5% from a positive of 0.1% (by 10 BPS) could only accentuate the value proposition of Bitcoin.<\/p>\n

The European Central bank also revealed that it would start a fresh round of quantitative easing by pumping 20 million Euros into the Bond market and other assets (not yet disclosed, but sure financial) every month to boost the economy.<\/p>\n

Bearing in mind that the U.S. President, Donald Trump also made a call to the Federal Reserve for interest rates to be slashed to zero or less. A top-notch executive of the American monetary policy revealed the notion of achieving a negative interest rate in the U.S is no meantime.<\/p>\n

The market pricing is already indicating that the September meeting of the FOMC(Federal Open Market Committee) may result in changes in interest rate been slashed by 100%. Futuristically, this rate cut is expected to continue into the year 2020.<\/p>\n

 <\/p>\n

Bitcoin Jumps Higher<\/strong><\/p>\n

The uniqueness of Bitcoin has separated it from the fiat economy, therefore all the moves been made by the central bank will work in its favor.<\/p>\n

A top Bitcoin investor\/analyst wrote that the ECB pumping 20 million Euros into bonds and other assets is going to increase money in the economy and it\u2019s a perfect strategy for currency devaluation in the meanest time.<\/p>\n

He likens the recent moves by the central banks as a currency devaluation race, in which scarce assets like Bitcoin will come to light. He believes that the more irrational the move is, the more Bitcoin will shine.<\/p>\n

This also has been corroborated by several analysts that the more money central banks pump out, the higher Bitcoin prices will rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

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