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Author Topic: As US Pumps Trillions Into Economy, Bitcoin Price Likely to Be Affected  (Read 676 times)

Joankii

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The U.S. is printing dollars and slashing interest rates to help the people, but will it affect the crypto market?



Policymakers around the world have committed unprecedented amounts of fresh money in a bid to stave off an impending recession, or worse: a total depression. In the United States, the Senate approved a $2 trillion stimulus package in late March, and the House of Representatives has now accepted a proposal from House Democrats for another $3 trillion meant to ease the needs of Americans who are facing an unemployment rate of nearly 15%. As a response to COVID-19, the Federal Reserve has undertaken a wave of quantitative easing unparalleled in its history.

As the monetary body responsible for managing the world’s reserve currency, the Fed uses quantitative easing as a means of infusing the economy with fresh liquidity. Having total control over money printing allows the Fed to print as many dollars as it wants, which it then injects into the financial system by purchasing assets on the open market.

Market observers recall the aftermath of the Great Recession in 2008, when the Fed brought up over $1.2 trillion worth of assets in just four months as a way to pump fresh capital into the markets. However, the scale of quantitative easing undertaken in the wake of the COVID-19 crisis dwarfs anything that happened before, with the Fed putting no cap on the amount of money it plans to infuse into the system.

Over the past 2 1/2 months, the Fed has purchased around $2.8 trillion worth of assets. Unlike in the aftermath of 2008 when the governing body limited its asset purchases to secure U.S. Treasury bonds, this time around it has committed to buying riskier assets such as corporate and municipal bonds as well.

Bamzmeca

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I am of the opinion that America is very serious about dealing with crypto, especially bitcoin, where bitcoin is no longer a secret and may even be applied in banking transactions

Synvc

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I am of the opinion that America is very serious about dealing with crypto, especially bitcoin, where bitcoin is no longer a secret and may even be applied in banking transactions

Yes, because America is one of the most technologically advanced countries and supports the existence of a technology blockchain that makes everyone in America

Bamzmeca

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Yes, because America is one of the most technologically advanced countries and supports the existence of a technology blockchain that makes everyone in America

I hope that all countries can open wide for crypto entry and become legal in the world, so that investors large and small are more free to use it

OluwaTosin10

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Well, i do not really think it affects bitcoin negatively, just recently a centralized exchange has been approved in the usa to run an etherum futures exchange, the second of its kind in the usa.

I think the USA is embracing crypto currency in the most legal way.

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Synvc

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Well, i do not really think it affects bitcoin negatively, just recently a centralized exchange has been approved in the usa to run an etherum futures exchange, the second of its kind in the usa.

I think the USA is embracing crypto currency in the most legal way.

Yes, because the United States is the same as Japan which emphasizes the technology of the digital era. in other words it is not only the two countries that will apply legality to crypto

bigcash2011

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From twitter i have been getting the impression that a vast majority of Americans who received the 1200 usd support cash during corona lockdowns have purchased or are purchasing bitcoin with it, if that is true i think we will see its bullish effect soon in the market.

Synvc

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From twitter i have been getting the impression that a vast majority of Americans who received the 1200 usd support cash during corona lockdowns have purchased or are purchasing bitcoin with it, if that is true i think we will see its bullish effect soon in the market.


if an individual gets that much it is most likely not possible, because it is most likely per family given in large quantities

 

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