{"id":387302,"date":"2019-06-24T18:00:45","date_gmt":"2019-06-24T18:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=387302"},"modified":"2024-06-11T13:44:34","modified_gmt":"2024-06-11T13:44:34","slug":"bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/","title":{"rendered":"Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\u2019s Dovish Stance?"},"content":{"rendered":"<ul>\n<li><em>Bitcoin (BTC) prints double-digit gains<\/em><\/li>\n<li><em>Central banks could slash interest rates to avert a global recession, boosting risk assets in the short term &amp; safe havens in the long term\u00a0<\/em><\/li>\n<\/ul>\n<p><em>Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to Bitcoin. In the last week, BTC is up 21.9 percent and likely to surge to $15,000. <\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>At 2019 highs, the world\u2019s most valuable asset now has the attention of the general public. With this newfound focus, <a href=\"https:\/\/wncen.com\/2019\/03\/28\/low-volatility-bitcoin-bull-run\/\" target=\"_blank\" rel=\"noopener noreferrer \">volatility<\/a> is back. Nonetheless, BTC prices are all over the place. As prices fluctuate, it conjures many memories of the Bitcoin mania that swept the world back in Q4 2017. Then, it was not rare for prices to double in short bursts.<\/p>\n<p>Over the weekend, prices soared past $11,000 after surging above the psychological $10,000 level in less than 24 hours. That was a hallmark of bulls. Even after last year\u2019s winter thawed, the global economy is seemingly in tatters, benefiting investors of BTC and gold.<\/p>\n<p>While <a href=\"https:\/\/wncen.com\/2019\/06\/21\/crypto-peter-schiff-gold-bitcoin\/\" target=\"_blank\" rel=\"noopener noreferrer \">gold<\/a> is above a 5-year range, BTC is registering double-digit gains, as <a href=\"https:\/\/wncen.com\/2019\/03\/05\/bitcoin-crash-wall-street-veterans-institutional-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer \">Wall Street<\/a> is jittery. Employment is weak and a trade war is raging. Therefore, to stimulate a fledgling economy, central banks are slashing rates.<\/p>\n<p>The Reserve Bank of Australia is leading, and the US Federal Reserve could be next as <a href=\"https:\/\/wncen.com\/2019\/06\/19\/donald-trump-and-fed-chairman-distrust-is-bullish-for-bitcoin-billionaire-investor\/\" target=\"_blank\" rel=\"noopener noreferrer \">President Trump<\/a> castigated Governor Jerome Powell on his decisions. Aptly described by different reports, a recession is imminent. However, low Fed Fund rates could save the stock market:<\/p>\n<blockquote><p>\u201cThe collapse in bond yields since this spring has been stark, swift and global, prompting a rush to lock in low rates that few expected to see this deep into a decade-long economic expansion.\u201d<\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-387296\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?resize=1280%2C1024\" alt=\"Bitcoin BTC\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Daily-Chart-June-24.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Retesting $11,000 for the second day in three days, BTC is 21.9 percent higher from last week\u2019s close. Regardless, from candlestick arrangements, there is room for more upsides. From the look of things, LTC is leading the way. Because of this, there could be a <a href=\"https:\/\/wncen.com\/2019\/06\/22\/bitcoin-bulls-relentless-btc-soar-past-11000-in-a-reminder-of-q4-2017\/\" target=\"_blank\" rel=\"noopener noreferrer \">BTC<\/a> undervaluation.<\/p>\n<p>Notice that behind this break and close above $10,000, there is a spike in trading volumes. Because of this, momentum is high. As a reflection, bull candlesticks are banding along the upper Bollinger Bands setting the pace for further gains.<\/p>\n<p>Technically-and in light of the hype element, every low is an entry point. Safe stops would be on June 23rd low of around $10,100. Meanwhile, fitting targets is at $12,000 and later $15,000.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Aforementioned, activity is on the rise. From June 19th, trading volumes rose from 19k, peaking on June 23rd at 38k before halving to 17k. Even so, as bulls flow back, prices and trading volumes shall spike as every dip becomes a loading point for traders.<\/p>\n<pre><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><em><strong>Chart<\/strong><\/em><\/a><em><strong> courtesy of Trading View. Image Courtesy of Shutterstock<\/strong><\/em><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) prints double-digit gains Central banks could slash interest rates to avert a global recession, boosting risk assets in the short term &amp; safe havens in the long term\u00a0 Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to Bitcoin. In the last week, BTC is up 21.9 percent and likely to surge to $15,000. Bitcoin Price Analysis Fundamentals At 2019 highs, the world\u2019s most valuable asset now has the attention of the general public. With this newfound focus, volatility is back. Nonetheless, BTC prices are all over the place. As prices fluctuate, it conjures many memories of the Bitcoin mania that swept the world back in Q4 2017. Then, it was not rare for prices to double in short bursts. Over the weekend, prices soared past $11,000 after surging above the psychological $10,000 level in less than 24 hours. That was a hallmark of bulls. Even after last year\u2019s winter thawed, the global economy is seemingly in tatters, benefiting investors of BTC and gold. While gold is above a 5-year range, BTC is registering double-digit gains, as Wall Street is jittery. Employment is weak and a trade war is raging. Therefore, to stimulate a fledgling economy, central banks are slashing rates. The Reserve Bank of Australia is leading, and the US Federal Reserve could be next as President Trump castigated Governor Jerome Powell on his decisions. Aptly described by different reports, a recession is imminent. However, low Fed Fund rates could save the stock market: \u201cThe collapse in bond yields since this spring has been stark, swift and global, prompting a rush to lock in low rates that few expected to see this deep into a decade-long economic expansion.\u201d Candlestick Arrangement Retesting $11,000 for the second day in three days, BTC is 21.9 percent higher from last week\u2019s close. Regardless, from candlestick arrangements, there is room for more upsides. From the look of things, LTC is leading the way. Because of this, there could be a BTC undervaluation. Notice that behind this break and close above $10,000, there is a spike in trading volumes. Because of this, momentum is high. As a reflection, bull candlesticks are banding along the upper Bollinger Bands setting the pace for further gains. Technically-and in light of the hype element, every low is an entry point. Safe stops would be on June 23rd low of around $10,100. Meanwhile, fitting targets is at $12,000 and later $15,000. Technical Indicators Aforementioned, activity is on the rise. From June 19th, trading volumes rose from 19k, peaking on June 23rd at 38k before halving to 17k. Even so, as bulls flow back, prices and trading volumes shall spike as every dip becomes a loading point for traders. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":385276,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1252,45168],"class_list":["post-387302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-central-banks","tag-fund-rates"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\u2019s Dovish Stance?<\/title>\n<meta name=\"description\" content=\"Presently, Bitcoin (BTC) is trading near 2019 highs. 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With the global economy fragile, the digital coin could be a savior as central banks ready to cut rates\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-24T18:00:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:44:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?fit=1000%2C668\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"668\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\u2019s Dovish Stance?\",\"datePublished\":\"2019-06-24T18:00:45+00:00\",\"dateModified\":\"2024-06-11T13:44:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/\"},\"wordCount\":465,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?fit=1000%2C668\",\"keywords\":[\"bitcoin\",\"btc\",\"central banks\",\"Fund Rates\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/\",\"url\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/\",\"name\":\"Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\u2019s Dovish Stance?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?fit=1000%2C668\",\"datePublished\":\"2019-06-24T18:00:45+00:00\",\"dateModified\":\"2024-06-11T13:44:34+00:00\",\"description\":\"Presently, Bitcoin (BTC) is trading near 2019 highs. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\u2019s Dovish Stance?","url":"http:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?fit=1000%2C668"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","central banks","fund rates"],"dateCreated":"2019-06-24T18:00:45Z","datePublished":"2019-06-24T18:00:45Z","dateModified":"2024-06-11T13:44:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin (BTC) At 2019 Highs, Is It Because of The FED\\u2019s Dovish Stance?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-at-2019-highs-is-it-because-of-the-feds-dovish-stance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/shutterstock_554244451-3.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/shutterstock_554244451-3.jpg?fit=1000%2C668\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"central banks\",\"fund rates\"],\"dateCreated\":\"2019-06-24T18:00:45Z\",\"datePublished\":\"2019-06-24T18:00:45Z\",\"dateModified\":\"2024-06-11T13:44:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_554244451-3.jpg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/387302"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=387302"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/387302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/385276"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=387302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=387302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=387302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}