Bitcoin drops below 7.000 USD — Dead Cat Bounce & Federal Reserve to print billions by the end of 2019
We proudly present to you today’s official Crypto2Cash Chronicle
Important and market moving cryptocurrency news
17–12–2019
Bitcoin drops below 7.000 USD — ‘Dead Cat Bounce’
Bitcoin dropped below the 7.000 USD support yesterday and is currently trading around 6.700 USD. Also Ethereum and Ripple dropped more than 8% in the last 24 hours.
In this bearish market, Bitcoin’s short price recovery at the end of November could also be referred to as a ‘Dead Cat Bounce’.
Federal Reserve to print billions by the end of 2019
By the end of the year, the Federal Reserve is expected to have printed an extra 425 billion USD to keep reserve liquidity intact in the repo market.
The repo market is the place in which the Federal Reserve issues extremely short-term large loans to financial institutions to keep them operational.
The Fed’s decision shows the value of Bitcoin’s limited supply.
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