Bitcoin Prices On This Day Had a Chance to Fall
Bitcoin Prices On This Day Had a Chance to Fall

Bitcoin Prices On This Day Had a Chance to Fall

63 views – Bitcoin prices fell to the US$60,000 level on Thursday (4/11) after the announcement of a planned reduction in US$ 120 billion per month in bond purchases aka taper by the U.S. central bank the Fed.

But, quickly Bitcoin prices rose. Referring to CoinDesk data, Thursday (4/11) at 14.47 WIB, Bitcoin’s price is at US$ 62,183.41. But, this figure is still down 1.4% compared to the position 24 hours beforeYeah, yeah, yeah.

“On the one hand, a tightened monetary policy could lead to less rapid growth in Bitcoin demand, as many use it to protect the value of inflation, and less QE (quantitative easing) theoretically means less inflation,” said Joe DiPasquale, CEO of BitBull Capital.

Baca Juga:

“On the other hand, the biggest QE effect in history could lead to the biggest inflation in history, regardless of the Fed’s efforts to reduce. If this happens, we forecast, demand and prices for bitcoin will rise to new all-time highs,” he said, as quoted by CoinDesk.

JPMorgan analysts recently said, more investors see crypto assets as a hedge of inflationary value.

But Bitcoin is also often highly correlated with the U.S. stock exchange, which could come under pressure when the Fed tightens monetary policy.

Because higher borrowing costs often translate into higher financing costs for companies, which have the potential to become hamblersatan on quarterly profit.

The Fed will cut the rate of bond purchases by US$15 billion per month starting in November 2021.

US Treasuries purchases fell to US$70 billion per month from US$80 billion. while the government-backed purchase of mortgage securities will down to US$35 billion a month from US$40 billion.

“The committee assessed, similar reductions in net asset buying rates are likely to be appropriate on a monthly basis, but are prepared to adjust the rate of buyers… if guaranteed by changes in economic prospects,” the Federal Open Market Committee (FOMC) said.

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