Express

Bitcoin's Price Drops After The Fed’s First Emergency Rate Cut Since 2008

Ramsey Baker

Summary: Bitcoin (BTC) prices fell on Tuesday after the U.S. Federal Reserve announced an emergency cut in interest rates in order to counter risks to the economy from the spreading coronavirus. The largest cryptocurrency by market value was down 1.31% to $8,732.59 at the time of writing. This comes after prices grew by 4.6% on Monday, ...

Bitcoin (BTC) prices fell on Tuesday after the U.S. Federal Reserve announced an emergency cut in interest rates in order to counter risks to the economy from the spreading coronavirus.

The largest cryptocurrency by market value was down 1.31% to $8,732.59 at the time of writing. This comes after prices grew by 4.6% on Monday, Rising alongside U.S. stocks as traders in traditional financial markets bet the Fed would soon cut rates to address the economic impact of the contagion. This marks the first emergency rate cut since the financial crisis of 2008.

By Ramsey Baker

Last Update:

Tags: ,,,
Link: Bitcoin's Price Drops After The Fed’s First Emergency Rate Cut Since 2008   [Copy]
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 1 day ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 2 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 5 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 6 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 8 days ago
  • You need to login to comment.