President Trump's Strong Pressure on Bitcoin to Cut Interest Rates

As a result of Trump's relentless insistence and pressure to cut interest rates, the FED is expected to cut interest rates by a quarter of a percent against the backdrop of the U.S.-China trade friction and the risk of a slowdown in the global economy.

In this phase of rate cuts, gold is likely to be bought by the falling yields of U.S. 10-year government bonds and others, and the continued flow of U.S. central bank's "financial easing policy" will accelerate the global "low rate exchange rate" and possibly a tailspin for bitcoin, dubbed digital gold.

The U.S. interest rate cut policy is expected to serve as a momentum for the rise of virtual currencies, as the U.S. government has been keeping a lid on Trump's anti-virtual currency tweets and Facebook's "Libra," which have put a damper on the recent upward movement of virtual currencies.

Moreover, people are paying attention as the demand for Bitcoin and other virtual currencies, considered safe assets as well as gold, are showing signs of widespread demand amid the volatile Middle East situation, including Iran's detention of a British oil tanker and the U.S. shooting down of an Iranian unmanned spy plane.－

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

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Bitcoin price when registering article
BTC-USD : $ 10,004.63 USD (API by Bitfinex)