© Reuters. Fed Cuts Interest Rate, Bitcoin (BTC) May Get a Boost
The US Federal Reserve cut the interest rate by 0.25 percentage points, fro 2.5% to 2.25%, in a bid to fight economic headwinds and potential setbacks. The decision to lower the rate is the first one in years, as the rate climbed from rock-bottom levels of 0.25%.
(BTC), created in early 2009, has existed in a decade of unprecedented quantitative easing – and the recent rise of rates toward 2.5% has turned the tides somewhat. But a new rate cut may add a general boost to all assets.
The news of an interest rate decrease caused a spike in gold prices above $1,420. While…
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