Bitcoin Prices Rise After US Fed Cut Interest Rates.

Bitcoin has experienced a moderate surge on its price following news from The Federal Reserve (Fed) on Wednesday that it will lower interest rates by 0.25 percent to cushion the economy from a global slowdown and trade tensions. Interest rate cuts often leads to inflation and therefore lowers the purchasing power of US dollar. naturally, people will look for ways to preserve the value of their wealth by moving it elsewhere instead of the dollar.

Alan Silbert, executive managing director at INX Trading Platform, believes the Fed will deliver more rate cuts in the near future.

For more info:

https://finance.yahoo.com/news/bitcoin-price-rise-first-fed-112321185.html

https://www.coindesk.com/bitcoin-price-on-the-rise-after-first-fed-rate-cut-since-2008

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