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    It's Time for Plan ₿ to Kickstart the Next Bull Market

    “None of — 0 interest, QE infinity, negative rates, currency controls, and e-coin and cash ban — will work”

    Central banks around the world are cutting down rates and announcing their quantitative easing programs to fight the impact of the global coronavirus (Covid-19) pandemic.

    The US Federal Reserve has been injecting billions of dollars in market liquidity for quite some time now and recently it cut down its rates to zero percent and restarted QE of $700 billion.

    The stock market jumped on the Trump administration proposing an emergency stimulus package. Treasury Secretary Steven Mnuchin is now asking Congress to approve a $1 trillion plan that will include direct checks to Americans. “It's a big number,” he said. “This is a very unique situation in this economy.”

    The Fed also announced a spending lending program “to support the flow of credit to households and businesses.” which will be backed by $10 billion from the US Treasury. The stimulus, biggest since the 2008 financial crisis, could also include $50 billion to help the US airline industry.

    These measures had US stocks rising sharply on Tuesday. All three major indexes gained 5% as investors rushed back into risky assets. The stock market’s volatility, VIX that gauges investor fear, surged to highs not seen since the crisis.

    According to Claudia Sahm, an economist and former top Fed advisor for recessions said it would take a $1.5 trillion stimulus to save the US economy. She said, “They need to go big, and they need to go now,” Sahm said Tuesday.

    “I don’t want to see anything less than $1.5 trillion.”

    “This recession looks like a very serious one,” which is likely to be “twice as deep” as the Great Recession, Sahm said.

    Bitcoin Fixes this

    Meanwhile, crypto exchange Binance founder and CEO Changpeng Zhao said what would really help is if governments stop printing money (don't rob people), hold failed executives accountable, investigate financial fraud, claw back previous bonuses, and put bad actors behind bars.

    “People have figured out how to game the system long ago. Bitcoin fixes this. No printing possible.”

    Bitcoin proponent Andreas Antonopoulos who predicted in January this year that Bitcoin and cryptos will fall hard initially said,

    “First 0 interest, then QE Infinity. Then negative rates and currency controls, then cash limits and helicopter money. Then e-coin and cash ban. None of it will work…”

    Crypto community has long been stating that bitcoin is a hedge against the fiat and central banks. Kim Dotcom said last week,

    “Prepare for the worst economic crash since the Great Depression. Sell stocks and fiat currencies while they still have some value. Buy Crypto and Gold. Do it now. Trust me. This is not a drill.”

    Bitcoin price might be falling but bitcoin enthusiasts, investors and participants believe the stimulus by the Fed will only take the digital higher, even to a new high. Litecoin founder Charlie Lee said,

    “I used to think that a Bitcoin ETF will kickstart the next bull market. I was wrong. Joe Sixpack will unfortunately get hit very hard due to the aftermath of the coronavirus and the central banks will keep on printing money. Joe will wonder if there's a better way. There is.”

    Central banks are pumping in money into the financial markets like crazy and these packages according to Alex Kruger is good for bitcoin price out in the short-term and long-term.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$6,788.2497 change ~ 0.72%

    Coin Market Cap

    $124.26 Billion

    24 Hour Volume

    $6.01 Billion

    24 Hour VWAP

    $6.76 K

    24 Hour Change

    $49.0887

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    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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