Reported by BTC Manager, US President Donald Trump has made calls to the country's monetary policy makers to match China and the European Union (EU) in adopting dovish policies (central bank policy when reading a slowdown in economic growth which is usually characterized by a decrease in inflation). In a tweet on July 3, 2019, President Trump accused China and Europe of playing "currency manipulation." According to the Trump administration, the recent monetary policy coming out of both China and Europe was an attempt to weaken the strength of the US dollar. Thus, the US President wants the central bank (Federal Reserve) to act in the same way to reduce interest rates and enter permanent quantitative easing.
Some bulls or supporters of Bitcoin increment such as Jameson Lopp from Casa believe that the economic conflict between the US, China and the European Union (EU) will eventually prove positive for BTC. Speaking in response to President Trump, Lopp argued, "There is one perspective that Bitcoin does not need to do anything else to become a global reserve currency, because bitcoin oversees other systems that must fail under the ignorance of humans that can change." With the central bank around the world abandoning hawkish policies to implement dovish policies, the result is the printing of unlimited money which is likely to be used to sustain the main market artificially. If history is something to go through, the rising stock market situation resulting from such policies is unsustainable, leading to the global economic crisis.
While Bitcoin bulls remain convinced that the central bank made a substantial policy mistake, BTC enjoys its popularity in 2019. Even with a series of decreases of 20 to 30 percent, bitcoin has still risen by more than 200 percent since the beginning of 2019. According to David Mercer of the LMAX Exchange, bitcoin like digital gold has become "the original alternative as a safe place to invest." This in the Financial Times, it was shown that the latest BTC rally planned pricing actions similar to mainstreaming safe assets such as gold and the Swiss Franc.
Excerpted from the article, "The rally also coincided with a surge in the prices of the best safe assets, including the Japanese Yen, the Swiss Franc and gold. For those who strongly believe, this is a sign that bitcoin has gained a place among assets that have benefited while heading to a safe place. ”Even media organizations in China, a country that prohibits bitcoin trading, supports the same sentiment, by identifying BTC as asset of heaven.