Bitcoin on the rise due to pressure from central banks, says Deutsche Bank

One of the largest, but also most polemic banks out there, Deutsche Bank, appears to be keeping an eye on Bitcoin. They are even coming up with explanations about its latest price movements.
Bitcoin on the rise due to pressure from central banks, says Deutsche Bank
According to comments from Jim Reid, global head of thematic research and credit strategy at Deutsche Bank, on a CNBC interviewtoday, part of the recent, solid rise in Bitcoin price is due to the Libra project. However, he assured that the raise of assets such as gold and the first crypto by market cap was more due to central bank’s policies in the last times:

“If central banks are going to be this aggressive, then alternative currencies start to look a bit more attractive”

Reid raised the issue of the Fed’s position with regards to interest rates following a speech yesterday from chairman Jerome Powell. Interestingly, he brought up Bitcoin without being directly questioned about it, as the CNBC journalist had enquired more about recent economic developments, quoting the raise of gold, but not Bitcoin, among them.
The Deutsche Bank has been surrounded by polemics and criticism since pretty much the beginning of the 2007 financial crisis up to now. Its market capitalization has suffered heavily, going down to the 63rd place of the worldwide bank rank. However, its total assets position it as the 15th largest bank of the world, and one of the largest of Europe.
Follow Chepicap now on TwitterYouTubeTelegram and Facebook!
Bitcoin on the rise due to pressure from central banks, says Deutsche Bank Bitcoin on the rise due to pressure from central banks, says Deutsche Bank Reviewed by Chaudhry on June 27, 2019 Rating: 5
Powered by Blogger.