Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin (BTC) Price Holds Steady As Fed Pumps Another $2.3 Trillion Into US Economy

by Daily Hodl Staff
April 9, 2020
in Bitcoin, Regulators
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Bitcoin (BTC) has been trading between $7,182 and $7,261 over the past five hours, showing a snapshot of relatively stable price action on Thursday following the latest announcement from the US Federal Reserve, which is set to pump another $2.3 trillion into the American economy.

The move comes as the Fed seeks to stabilize the financial markets as well as rescue small and mid-size businesses, states and municipal governments pushed to the brink in the midst of the ongoing economic meltdown triggered by layoffs, lockdowns and stay-at-home orders due to the coronavirus pandemic.

The three leading cryptocurrencies are all down less than one percent at time of writing, according to COIN360. Bitcoin is down 0.52% at $7,270, Ethereum is down 0.66% at $169.68 and XRP is down 0.35% at $0.19.

Source: Coin360

According to Federal Reserve Board Chair Jerome Powell, who spoke at an online event hosted by the Brookings Institute, the Fed will initiate a number of unprecedented actions, such as establishing a “Municipal Liquidity Facility” that will offer up to $500 billion in lending to states and municipalities.

Says Powell,

“Many of the programs we are undertaking to support the flow of credit rely on emergency lending powers…We will continue to use these powers forcefully, proactively, and aggressively until we are confident that we are solidly on the road to recovery.”

The Fed’s latest efforts are on top of slashing rates to nearly zero, purchasing mortgage-backed securities and government debt with tallies into the billions, and bolstering the $350-billion emergency loan program for small businesses in order to prevent more layoffs and shuttered doors on Main Street.

Crypto influencers are sounding the alarm bell.

Bitcoin educator and developer Jimmy Song says the Fed’s money printing will slam other countries the hardest.

“All this money printing will hurt the people in third world countries the most. USD demand in those countries will increase, their currencies will hyperinflate and our bureaucrats will wag their fingers at them for their bad monetary policy which was forced on them.”

Crypto analyst PlanB, who has popularized the application of the stock-to-flow model to predict the price of Bitcoin, is calling the Fed’s latest measures the last warning.

“Don’t think Central Bank don’t know what they are doing. CB know exactly what they are doing, and also how it ends. But they have no choice. Consider it your last warning signal, the canary in the coal mine. Protect yourself, buy stuff CB and governments can NOT print. #Bitcoin.” 

Meanwhile, economist Joseph Stiglitz suggests business owners who don’t like the government’s proposals may roll the dice by declaring bankruptcy instead. He’s calling for ‘super Chapter 11’ procedures that are designed to keep companies in business to avoid systemic collapse.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$37,011.00
$37,011.00
2.55%
Ethereum
$1,365.97
$1,365.97
11.89%
XRP
$0.305760
$0.305760
10.07%
Litecoin
$163.27
$163.27
14.55%
Bitcoin Cash
$525.89
$525.89
9.42%

Spotlight

  • Top Crypto Lawyer Says New SEC Chief Will Boost Bitcoin – But XRP Is Another Story
    January 13, 2021
  • Billionaire Investor Says Central Banks Will Stop at Nothing To Clamp Down on Bitcoin
    January 17, 2021
  • Top US Banking Regulator Grants Federal Charter to Crypto Firm Anchorage
    January 14, 2021
  • Prominent Analyst Says Three Crypto Assets Will Follow Polkadot’s Raging Rally and Surpass XRP
    January 18, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.