The sudden rate cut by the central bank pushed Bitcoin up? Will Bitcoin create a new all-time high in the future?
On Monday, the People's Bank of China (PBOC) cut its short-term policy and benchmark lending rates. This move was very unexpected and took the entire market by surprise. More importantly, the central bank's move has far-reaching implications, including in the field of cryptocurrency. Some industry professionals and traders generally believe that China's interest rate cut is a prelude, and Bitcoin is expected to hit a new all-time high within two months, that is, before September. After all, this is a major move by the world's second largest economy.
