Bitcoin and the US economy developed an uncanny correlation against the coronavirus pandemic backdrop. Powell—involuntarily—provided more reasons to stay bullish on the benchmark cryptocurrency.
Here are three among them. Long Way Sig. Powell highlighted that the US employment last month was 10 million below its February livello. That was worst than the figures that emerged during the Great Recession despite a more vital drop in the jobless claims—from its alto di The banker warned financial thinktanks about the understated unemployment rate, failing to grasp the actual economic damage.
It includes the most significant month drop in labor force participation since at least A sua volta, it would mean a weaker US dollar. It could send the Bitcoin price upward. Powell club btc tradingview in a prepared statement.
Expectations of more robust recovery earlier pushed long-dated Treasuries higher. Fed is buying short-term bonds for now, which has kept their yields just shy of zero.
Markets anticipate that the central bank would shift its bond-buying program to longer-dated bonds should it deem necessary to accelerate growth.
A sua volta, that would push the yields on and year bonds lower, making it unattractive for investors. Blocciamo gli annunci!