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Bitcoin: This federal action might contribute to Plan B’s model failing
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The coming holiday season should be a time of joy, but the crypto-market is down and inflation has been on the rise. Meanwhile, Huobi Research recently published an article looking into the Taper phenomenon and how it could affect Bitcoin’s price in ways few have considered.
Early in November, the Federal Reserve announced that it will be cutting down or “tapering” asset purchases. This would be a cutback of $15 billion per month. During the COVID-19 pandemic, maintaining a larger Fed balance sheet was one way to support the American economy. However, crypto-investors need to keep in mind how this could impact the global crypto market.
In particular, Huobi Research’s report warned that the Fed’s action could cause Plan B’s Bitcoin
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