Bitcoin (BTC): Recovery Amid Bank of England Rate Cuts
Bitcoin has been recovering since the Bank of England cut interest rates, which also impacted global money markets and digital coins. Also Read: Mt. Gox Bitcoin Creditors Continue to Hodl Distributed Assets bitcoin - btc -amp-crypto-market">Impact of Bank of England Rate Cuts on Bitcoin (BTC) & Crypto Market Source: Computerworld Bank of England ’s Key Move The Bank of England cut rates by 25 basis points, from 5.25% to 5.0%. Investors noticed this change, marking a significant shift in monetary policy. This move helps the economy and manages inflation, at least in theory. How Other Central Banks Might React This action by the Bank of England could sway other central banks worldwide. Many are watching the U.S. Federal Reserve closely. There’s talk about a possible rate cut by the Fed soon. Also Read: Goldman Sachs CEO Says Bitcoin Can Mirror Gold as a ‘Store of Value’ How the Crypto Market Responded Bitcoin’s price rose slightly after the news. It rose by 1000 point...