The consequences of the activities of the US Federal Reserve are becoming so serious that even the leaders of the payment giants started talking about Bitcoin.
On August 28, after the statement of the head of the Fed, Jerome Powell, the US dollar index (DXY) showed a critically low level and amounted to 92.28 – this is the lowest level since August 19.
Throughout the summer, there was an inverse relation between the dollar index on the one hand, and gold and Bitcoin on the other. The DXY fell, gold climbed to a record $2,075 an ounce, and Bitcoin approached $12,500 two weeks ago.
According to analyst and trader Filbfilb, Bitcoin has maintained its bullish stance following the Fed’s announcement.
Visa Policy Director Andy Yee tweeted:
Jerome Powell’s speech today will go down in history books. This is the first time I have seen such a small group steal so much from so many people. Save yourself with Bitcoin.
For Raoul Pal, CEO of investment group Real Vision, Powell’s speech was a confirmation that Bitcoin and gold will continue to be attractive to investors.
“I think both assets will grow gradually as a result of inflation or deflation,” he noted on Twitter. “The majority of people don’t even understand this, but simply put, Powell showed that there is zero-tolerance for deflation, so they will do everything to stop it, and this will positively affect the two most difficult assets – gold and Bitcoin. Powell strives for inflation.”
