{"id":391359,"date":"2019-07-27T10:40:44","date_gmt":"2019-07-27T10:40:44","guid":{"rendered":"https:\/\/wncen.com\/?p=391359"},"modified":"2019-07-27T10:40:44","modified_gmt":"2019-07-27T10:40:44","slug":"fed-interest-rate-cut-is-rocket-fuel-for-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fed-interest-rate-cut-is-rocket-fuel-for-bitcoin\/","title":{"rendered":"FED Interest Rate Cut is Rocket Fuel For Bitcoin"},"content":{"rendered":"

The ebb and flow of crypto markets continues into the weekend as another day of gains follows one of losses. Bitcoin crept back over five figures but dumped again an hour or so ago. Industry observers and analysts are of mixed opinion as to its next major move as a FED interest rate cut looms.<\/p>\n

Bitcoin Tops $10k Again But Cant Hold It<\/h2>\n
Another big spike sent BTC surging back<\/a> above the psychological $10,000 barrier again during late trading yesterday. The move represented a gain of over 5 percent for Bitcoin which lifted from its daily low of $9,700 to $10,230.<\/p>\n
As in previous jumps BTC could not hold this level and fell back from resistance at the 200 hour moving average. The slide has taken it back below $10k and the fall back to four figures has already started at the time of writing with it crushing down to $9,400 in one big red candle on the hourly chart.<\/p>\n
$\"bitcoin\"$ <\/a>
BTC prices 1 hour, Tradingview.com<\/figcaption><\/figure>\n
Bitcoin has been range bound for most of the past week since its fall back from $11k last weekend. A larger move is expected however and it could come from economic news out of the US.<\/p>\n
FED Interest Rate Cut Looming<\/h2>\n
According to reports<\/a> the FED is expected to cut interest rates next week for the first time in over a decade. Morgan Creek Digital Assets founding partner, Anthony Pompliano, pointed out that the fall in GDP is a sign of a slowing economy which would result in interest rates cuts and more fiat rolling out of the printers. He added that this would be giving \u2018rocket fuel\u2019 to Bitcoin;<\/p>\n
“US GDP last quarter: 3.1%
\nUS GDP this quarter: 2.1%
\nEconomy\u00a0 s l o w i n g\u00a0 down only means one thing \u2014 cutting rates and printing money!
\nThey don’t realize that they’re giving Bitcoin the rocket fuel it was built to consume.”<\/p><\/blockquote>\n
\n
HERE WE GO.<\/p>\n
US GDP last quarter: 3.1%
US GDP this quarter: 2.1%<\/p>\n
Economy s l o w i n g down only means one thing \u2014 cutting rates and printing money!<\/p>\n
They don't realize that they're giving Bitcoin the rocket fuel it was built to consume.<\/p>\n
Long Bitcoin, Short the Bankers!<\/p>\n
— Pomp \ud83c\udf2a (@APompliano) July 26, 2019<\/a><\/p><\/blockquote>\n