đ Bitcoin and Interest Rates: A Match Made in Financial Heaven? đ
Hey BTC enthusiasts! đ Did you know that Bitcoin (BTC) has an intriguing relationship with interest rates? A recent report from Fidelity Active Investor Learning Center highlights that while central banks don't control cryptocurrencies, their policies might indirectly influence crypto prices. đ
According to SPGlobal, there's been a 63% inverse correlation between interest rates and the crypto index since May 2017, rising to 75% since May 2020. With China, Canada, and South Africa on the brink of rate cuts, BTC could be in for a wild ride! đ
Arthur Hayes, BitMEX founder, believes that the USD money printer firing up will drastically boost BTCâs price. He predicts that this monetary influence will materialize fast, leading to dramatic results. đđ°
So, keep your eyes peeled, Bitcoiners! The future looks bright for BTC. đ