Central Bankers Ready to Boost Bitcoin Price Sky-High; Here’s Why

As reported by News BTC, “According to its proponents, the value proposition of Bitcoin (BTC) was dramatically accentuated on Thursday, when central bankers continued their march towards debasement and uncharted monetary territory.

“For those who missed the memo, the European Central Bank (ECB) on Thursday revealed that it would be activating yet another round of dovish monetary policies.

“While cryptocurrencies were created to be abstracted from the ins and outs of the fiat world, analysts say that this move by the ECB, coupled with similar steps from other leading central banks, should only prove the need for Bitcoin.

“According to a report from CNN, the monetary body overseeing the Euro cut its interest rate for deposits by 10 BPS (0.1%) to -0.5%. Simultaneously, the central bank revealed that it would be starting another round of quantitative easing (QE), promising to purchase some 20 million Euros worth of bonds and “other financial assets” (not Bitcoin, that’s for sure) every month in hopes that the economy will remain stimulated.

“This comes after President Trump called for the Federal Reserve, which is technically not a governmental organization, to ‘get our interest rates down to ZERO, or less’. What’s crazy is that Alan Greenspan, the former chairman of the American monetary authority, has argued that it won’t be long before rates go negative in the U.S.

“Also, the ECB’s move to inject more liquidity into their flagging economy comes amidst news that the People’s Bank of China will start cutting rates ‘as early as next week’. “

Continue to read the full story at News BTC.

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