As the COVID-19 pandemic continues to unfold with dire consequences across the globe, desperate measures to keep the economy afloat continue to be taken by world governments. Currently the most notable example is the U.S., which recently announced an unlimited quantitative easing program and also reached an agreement for a $2 trillion stimulus package.
The unlimited quantitative easing process will entail the Federal Reserve purchasing assets “in the amounts needed to support smooth market functioning” and after the announcement was made Bitcoin (BTC) price rallied almost 10% from $6,300 to $6,900.
At the moment, Bitcoin has dropped to $6,630 and crypto markets have remained fairly stable throughout the day.
Crypto market data. Source: Coin360
Gold and silver have also recovered after several days of losses. Gold price dropped by more than 12% in 10 days but has since recovered to the $1,620-$1,680 price range seen between February 20 and March 9.
SILVER USD/m2 chart. Source: TradingView
Meanwhile silver has hit its generational low against the US dollar when money supply adjusted, a figure to keep in mind while the Fed prints billions of dollars. In the last 3 days, silver…
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Author: António Madeira