• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Central Banks’ “Free Money” is Behind Bitcoin Bull Run: Mati Greenspan

Yashu Gola by Yashu Gola
3 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

A portion of fresh cash liquidity supplied by the global central banks has made its way into the bitcoin market, says Mati Greenspan, the founder of Quantum Economics.

The prominent market analyst told BlockTV that the cryptocurrency – more or less – behaved like stocks as it rose from $6,430 to well above $10,000 in just three months. He said central banks injected “free money” into the market to safeguard it from potential geopolitical and macroeconomic conflicts. However, some investors directed the funds into bitcoin.

“The People’s Bank of China has already injected some $170 billion into its economy,” explained Mr. Greenspan. “The [Federal Reserve] has recently resumed its quantitative easing, so as the European Central Bank.”

He noted that central banks are giving markets “free money with low-interest rates,” which explains why stocks are rising despite the risks associated with the Coronavirus outbreak. The same fundamental is helping Bitcoin, as well as the rest of the cryptocurrency market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Coronavirus?

Mr. Greenspan’s statements came after a string of reports stating how fears of a full-fledged Coronavirus outbreak led risk-on investors to the safety of hedging assets, including bitcoin. Moreover, the sentiment borrowed its cues from bitcoin’s immediate reaction to the US-Iran geopolitical conflict that made it a digital equivalent of Gold, a traditional haven.

But Mr. Greenspan partially disagreed. While the analyst acknowledged the US-Iran tensions to spark the bitcoin price rally in January, he rubbished Coronavirus’ impact on the cryptocurrency altogether, citing stock markets that also rose in tandem in 2020.

“The evidence of that is the altcoin season,” said Mr. Greenspan. “Altcoins are outperforming bitcoin consistently on a day-to-day basis pretty much since the beginning of this year […] It means investors are looking to take risks, which is pretty much different from safe-haven trading.”

On Bitcoin’s Big Bullish Indicator

The solid fundamentals led by the central banks’ easing policies helped bitcoin flip its negative technical indicators upside down. Mr. Greenspan said the ongoing price rally is likely to continue for the rest of 2020, giving ample evidence to answer the hows and whys.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
cryptocurrency, bitcoin, crypto
Golden Cross Formation imminent | Source: TradingView.com, Coinbase, Mati Greenspan

“We are well above the 200-day moving average and we all know how [it] is one of the leading indicators for gauging bitcoin’s strength,” said Mr. Greenspan. “And we’re looking at the 50-day moving average crossing above the 200-day moving average – that’s what we call a Golden Cross, which is a very bullish sign.”

Is #Bitcoin about to hit a golden cross?

See why @MatiGreenspan believes it could happen as soon as this week and $BTC could continue its upward trajectory. https://t.co/7PWpa46pFH pic.twitter.com/d7dbI80guD

— BLOCKTV (@BLOCKTVnews) February 11, 2020

Bitcoin was trading 3.40 percent lower from its local high above $10,000 as of the time of this publication.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Tags: bitcoincryptocryptocurrency
Tweet123Share244ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Polkadot

Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing?

7 hours ago
TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

17 hours ago
Taro Taro Taro

Lightning Speed: Taro Wants To Abolish Cross-Border Payments, Disrupt The Market

1 day ago
TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

1 day ago
Cardano

Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon

2 days ago
TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

GNOX (GNOX): Likely Top 50 Crypto Similar To EOS (EOS) And Sandbox (SAND) After Presale Sold-Out Quickly

August 14, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 14, 2022

HypaSwap, Bitcoin, and Solana – Crypto Crash 2022 Buy For Massive Bull Run Profits!

August 14, 2022

How Eco-Friendly Is Crypto? A Look At Proprivex, Ethereum, and Bitcoin

August 14, 2022

Earn Rewards From Quilvius Using Bitcoin

August 13, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.