Price Analysis 21/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
The global economy is on weak footing. This has led to rate cuts by several central banks across the world and many are planning to implement additional measures to support their respective economies. This has ballooned the balance sheets of the central banks and there appears to be no end in sight. Since mid-September, the Federal Reserve has resumed its bond buying initiative, leading its balance sheet to expand by $210 billion. The Fed’s balance sheet is now about $3.97 trillion.
While the supply of fiat currencies has been steadily increasing for the past few years, Bitcoin’s (BTC) block rewards has reduced at each halving. The rate of supply will reduce further following the halving in 2020. Previous instances of halving resulted in a sharp price increase and for this reason analysts are anticipating a repeat rally as the 2020 block reward halving approaches.
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