The bitcoin price has soared this week on the prospects of Fed rate cut, the Facebook coin, and uncertainty due to the US-China trade war.
The world’s leading cryptocurrency rallied on Saturday, with its price flying past the $10,000 level for the first time since March 8 last year. Investors allegedly bid up bitcoin in expectations of more US dollar flowing into the markets. On Wednesday, Jerome Powell, the chairman of Federal Reserve, indicated that the US central bank would cut interest rates next month, prompting investors to take their money out of the US Treasuries.
From the day of announcement until 1000 UTC today, bitcoin has surged by more than 20 percent to $10,949.
probably one of the most interesting charts out there: Bitcoin vs. UST10Y inverted pic.twitter.com/qEuFqD6JJ9
— Alastair Williamson (@StockBoardAsset) June 21, 2019
The US-Iran Issue
Tensions in the Gulf of Oman touched peak after Iran said it shot down an “intruding” US drone after it entered into the country’s skies. The territory was already under the lens after the US officials blamed Iran for attacking oil tankers last week, with President Donald Trump himself accusing Iran on national TV.
“It was them that did it,” Trump told Fox News.
The post Bitcoin Rise May Appeal to Investors amidst Intensifying Geopolitical Risks appeared first on NewsBTC.
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