Both the cryptocurrency market and Wall Street enjoy a well-deserved green rest. Since the beginning of this week, both markets have only grown. Printing money and constantly pumping FIAT into the economy brings fruit. The question is how long it will last. However, for the time being, the worst seems to be behind us, and Bitcoin will hold his power in the form of approaching halving.
Quantitative easing, the noble name for printing money, finally brings a weighty result. Paradoxically, despite the US being in the midst of a coronavirus crisis, equities and cryptocurrencies are doing well. There are several reasons.
The first is that the President of the United States eventually decided to use even the most extreme means. In this case, the Cold War Act, which practically nationalizes factories for a time and orders them to produce what is needed. In this case, lung ventilators.
The second reason is, of course, the American Fed, which pumped the economy’s largest money ever. Although Bitcoin does not always correlate with stock markets, in times of crisis this correlation is still quite accurate. The days when Wall Street ignored the cryptocurrencies are long gone. Now almost everyone has at least a small position and hedge funds even huge shares.
In addition, Bitcoin also takes advantage of the fact that it was historically very strong before the halving and entered the bubble. Few dare now to sell in bulk.