WorthAShot

BTC near-term boost expected as Fed lowers rates

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BITSTAMP:BTCUSD   Bitcoin
Hi, folks. In case you haven't heard, the US Federal Reserve is expected to cut interest rates by 50 basis points (half a percent) by its next meeting scheduled for March 17-18 (some say possibly before then) in order to offset the negative impact of the Coronavirus. Many other central banks in Europe and Asia are also expected to cut their rates. This will apply downside pressure to the major currencies including the USD, EUR, GBP, YEN, and others. And as currencies pull back, BTC should climb a bit. Short-term boost at least.
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