Jim Raid, a representative of the German bank Duetsche Bank, believes that the positive dynamics in the Bitcoin market is associated with the aggression of central banks.
During an interview with CNBC representatives, Jim Raid, head of credit strategies at Deutsche Bank, said that if central banks continue to take an aggressive stance, alternative currencies will become more attractive to society.
Such a comment from Raid followed after Jerome Powell, chairman of the US Federal Reserve System (FRS), spoke of a possible reduction in interest rates during growing economic certainty. Against the background of a reduction in the discount rate, there will be a reduction in the profitability of investments in US bonds. Yesterday, a three-month low of the USD against EUR was recorded. Ryde attributes this to the Fed's monetary policy, believing that over time, investors will begin to look closely at more attractive ways to invest capital.
In addition, Ryde links the growth of the BTC rate, which today has risen above $ 12,600, with Libra's crypto-project from Facebook. The “white paper” of this project was presented on June 18th. Since then, the value of BTC has increased by more than 30%. It is noteworthy that recently Mario Draghi, who chairs the European Central Bank, also hinted at lower interest rates.
