The Pandemic Couldn’t Have Provided a Better Environment for Crypto By Cointelegraph

The Pandemic Couldn’t Have Provided a Better Environment for Crypto

The Fed opening the floodgates to unlimited standing quantitative easing paired with a $6 trillion stimulus package is an unprecedented event. It’s the most heavy-handed intervention by the Fed to date. For many crypto proponents, it is a rallying cry amid an interventionist monetary policy reminiscent of the 2008 environment that led to the release of the (BTC) whitepaper by its anonymous founder.

The giant stimulus package equates to roughly 28% of the United States’ 2019 GDP, arriving while credit markets are in flux and bond yields are trending toward zero. As the sharpest decline in American history, current market shock to the may only be a byproduct of unwinding leveraged positions from major asset managers such as risk-parity funds and rules-based funds.

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