Bitcoin News Today – Headlines for November 25
发布时间：2019-11-26 15:21:54 发布人：TokenString
Bitcoin News Today – When the United States Fed began its program of repo agreements to help out banks in tight corners, many predicted that it is the start of another financial crisis. As they printed and injected more dollars in the financial markets, the depreciation of the dollar increased and there was more pressure on the global economy. This should be good for the world’s largest digital currency by market cap – Bitcoin (BTC). However, the present price action of the digital currency is staying otherwise.
Is Bitcoin (BTC) Still a Safe Haven Asset?
Perceptive investors should be looking for safe-haven assets with the notion of another 2008 corresponding global financial crisis. Gold has seen considerable growth this year and Bitcoin (BTC) is just up by 75 percent since the start of this year. The recent massive plunge of Bitcoin’s price has severely dented the perspective that demand will surge in times of economic crisis.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,252.70
8.74%
‘Who is dumping Bitcoin (BTC) and why’ should be the question right now. It has been said in the past that quantitative easing is “rocket fuel” for BTC, yet the digital currency has lost more than 20 percent of its value this week. Alex Kruger – a digital currency analyst – has been asking these same questions in his recent tweets.
“Remember how the Fed ‘printing money’ was supposed to make prices explode higher? Bitcoin (BTC) is down by 30 percent since the Fed started expanding its balance sheet in August.”
Decentralized Cryptos Should Be Seen as a Hedge against the forthcoming Macroeconomic Crisis
The ongoing FED repo agreements, US-China trade war, political upheavals and rioting across the globe, galloping national debts, and a fragmented EU all point to major macroeconomic crises in the near future. Decentralized cryptocurrencies should act as a safe haven against all of this and more. Yet, the price of Bitcoin (BTC) is still heading south.
Kruger said that the price of Bitcoin (BTC) is affected by micro, not macro variables. He said:
“Added liquidity can only help price, but BTC does not respond to macro variables. It is such an illiquid/fragmented market that is the absence of mass influx of new buyers, actions, and a few determine direction. Micro, not macro.”
Bitcoin’s Block Reward Halving Narrative Still Applies
According to Kruger, the only real narratives driving the price of Bitcoin (BTC) is the forthcoming halving, which is in May next year. It could be that fat digital wallet holders are selling off just to buy more when BTC bottoms in preparation for the big event. BTC has put a series of slow-motion dump and pump cycles. This year alone, the digital currency has surged from $3,800 to $13,800 and it is now at $6,600. However, no one knows when the bigger rally would set in.
Bitcoin News Today – When the United States Fed began its program of repo agreements to help out banks in tight corners, many predicted that it is the start of another financial crisis. As they printed and injected more dollars in the financial markets, the depreciation of the dollar increased and there was more pressure on the global economy. This should be good for the world’s largest digital currency by market cap – Bitcoin (BTC). However, the present price action of the digital currency is staying otherwise.
Is Bitcoin (BTC) Still a Safe Haven Asset?
Perceptive investors should be looking for safe-haven assets with the notion of another 2008 corresponding global financial crisis. Gold has seen considerable growth this year and Bitcoin (BTC) is just up by 75 percent since the start of this year. The recent massive plunge of Bitcoin’s price has severely dented the perspective that demand will surge in times of economic crisis.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,252.70 |
8.74%
|
‘Who is dumping Bitcoin (BTC) and why’ should be the question right now. It has been said in the past that quantitative easing is “rocket fuel” for BTC, yet the digital currency has lost more than 20 percent of its value this week. Alex Kruger – a digital currency analyst – has been asking these same questions in his recent tweets.
“Remember how the Fed ‘printing money’ was supposed to make prices explode higher? Bitcoin (BTC) is down by 30 percent since the Fed started expanding its balance sheet in August.”
Decentralized Cryptos Should Be Seen as a Hedge against the forthcoming Macroeconomic Crisis
The ongoing FED repo agreements, US-China trade war, political upheavals and rioting across the globe, galloping national debts, and a fragmented EU all point to major macroeconomic crises in the near future. Decentralized cryptocurrencies should act as a safe haven against all of this and more. Yet, the price of Bitcoin (BTC) is still heading south.
Kruger said that the price of Bitcoin (BTC) is affected by micro, not macro variables. He said:
“Added liquidity can only help price, but BTC does not respond to macro variables. It is such an illiquid/fragmented market that is the absence of mass influx of new buyers, actions, and a few determine direction. Micro, not macro.”
Bitcoin’s Block Reward Halving Narrative Still Applies
According to Kruger, the only real narratives driving the price of Bitcoin (BTC) is the forthcoming halving, which is in May next year. It could be that fat digital wallet holders are selling off just to buy more when BTC bottoms in preparation for the big event. BTC has put a series of slow-motion dump and pump cycles. This year alone, the digital currency has surged from $3,800 to $13,800 and it is now at $6,600. However, no one knows when the bigger rally would set in.
