Analyst reveals why Bitcoin will rise amid QE

eToro analyst and cryptocurrency expert, Simon Peters, has described the potential impact of the Federal Reserve's QE on Bitcoin. On Monday the Federal Reserve announced a plan to unleash “unlimited quantitative easing” to boost the US economy after its coronavirus-related plunge. Understandably, this had a huge impact on all global markets, with the S&P500 rallying by 7.75% from a low of 2169.5. Bitcoin also experienced a boost at the hands of the Federal Reserve as it surged significantly on Monday with continuation going into Tuesday. “Bitcoin rose by 11% yesterday, currently at around $6,700, following the US Federal Reserve's announcement on unlimited QE to help reduce the economic impact of the Covid-19 pandemic.” said Simon Peters, eToro analyst. “This effectively

eToro analyst and cryptocurrency expert, Simon Peters, has described the potential impact of the Federal Reserve's QE on Bitcoin. On Monday the Federal Reserve announced a plan to unleash “unlimited quantitative easing” to boost the US economy after its coronavirus-related plunge. Understandably, this had a huge impact on all global markets, with the S&P500 rallying by 7.75% from a low of 2169.5. Bitcoin also experienced a boost at the hands of the Federal Reserve as it surged significantly on Monday with continuation going into Tuesday. “Bitcoin rose by 11% yesterday, currently at around $6,700, following the US Federal Reserve's announcement on unlimited QE to help reduce the economic impact of the Covid-19 pandemic.” said Simon Peters, eToro analyst. “This effectively

Leave a Reply