Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from
Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
, by kyle , published with permission.
At 5:00 am on March 16th, Beijing time, the Federal Reserve announced another emergency interest rate cut, sending out a "king bomb" and cutting the interest rate to 0. Moreover, this is the second emergency interest rate cut by the Federal Reserve within half a month, which is unprecedented. The last time the Federal Reserve cut interest rates to zero was in response to the global economic crisis in 2008. Now, when the new coronavirus epidemic is spreading rapidly around the world, the Fed has made another move to provide support for the US economy.
Commenting on the Fed's further rate cut, U.S. President Trump said, "I'm extremely happy with that move, and I want to congratulate the Fed. That's a big step for them, and I'm glad they did it."
Dan Hedl@danheld：
Federal Reserve Chairman Powell said that the new crown virus has a profound impact on the United States and the world, and overseas weakness will drag down US exports for a period of time. The U.S. economy is likely to be weak in the second quarter. It is "difficult to say" how long the economic impact will last after the second quarter and will depend on the spread of the virus. Today's actions will help the U.S. economy and facilitate a stronger return to normalcy.
After the Federal Reserve announced the interest rate cut, the encryption market immediately rebounded, and Bitcoin rose rapidly, breaking through the highest of $5,900 and rising by nearly $600 within 15 minutes. Then it suddenly took a sharp turn and gave up all the gains quickly, as if the rise never happened. Regarding the consequences of the Fed's interest rate cut to zero, Ren Zeping, Chief Economist of Evergrande, said, "On March 16, the Federal Reserve cut interest rates to zero in an emergency and launched a large-scale QE plan of 700 billion U.S. dollars, all in directly. Let me just say: "drink poison to quench thirst" Currency is flooding, politics is hijacked by populism, and currency is hijacked by politics.
The Federal Reserve’s emergency interest rate cut soon became the hottest topic in the crypto community. Let’s see what they all have to say:
The Fed just cut interest rates to zero and then went back into quantitative easing. Bitcoin was built for this. Buy #bitcoin#.
Gemini co-founder Tyler Winklevoss @tylerwinklevoss retweets the Fed rate cut report:
Stephan Livera@stephanlivera：
Bitcoin is the hedge against this situation. Gold and Bitcoin traded higher as Dow futures hit limit-down limits after the Fed announced a rate cut. Bitcoin is not a hedge against a pandemic, it is a hedge against a fiat system. In the short term, a sudden negative demand shock in the global economy will affect all assets including gold.
Yano@JasonYanowitz：
Blockstream Chief Strategy Officer Samson Mow @Excellion:
Contrary to popular belief, the Fed is not without bullets. They have one more. They can buy #bitcoins. #Bitcoin is not a pandemic safe haven. It is a safe haven for fiat currency and Fed currency printing. It's time to buy.
-7,The Fed has cut interest rates to zero. If you don't understand why the world needs an alternative currency and financial system like #bitcoin now, you probably never will.
Reminder: We are watching the bank and hedge fund bailouts in real time.
- $1.5 Trillion Repo Market Intervention
$00 billion in quantitative easing
Vis@Vis_in_numeris：
-0% interest rate
-7,- Eliminated bank reserve requirement
There is only one hedge against this monetary system - #bitcoin#
Every reason why Bitcoin matters has been confirmed in the past 24 hours:
$100 Billion in Money Printing Fills Your Wealth
- Full fractional reserve bank legalization
-Interest rates are close to negative, cost will be saved
Morgan Creek founder pomp:
Bitcoin official Twitter Bitcoin@bitcoin:
Forget fiat, get bitcoin.
Morgan Creek founder pomp:
Shapeshift CEO Erik Voorhees@ErikVoorhees：
The Federal Reserve just ran a $700 billion marketing campaign on Bitcoin. They are essentially cutting interest rates and printing money into bitcoin transactions. unbelievable.
Crypto analyst WhalePanda @WhalePanda:
After the Federal Reserve announces negative interest rates, wait they will start buying $5 billion worth of Bitcoin.
When something goes wrong with Bitcoin, the market clears. Bitcoin is volatile, but impervious to contamination. When there is a problem with fiat currency, it starts the money printing machine, which is smoother and tends to zero forever. In the short term, fiat currencies are more comfortable. In the long run, Bitcoin is inevitable.
paTo.. @moonshilla：
Physical cash and Bitcoin are similar in some respects. But physical cash can only be physically transferred from person to person. Bitcoins can be sent instantly anywhere on earth.
Crypto analyst Mati Greenspan:
Bitcoin reacted strongly to the Fed's statement.
