Bitcoin maximalist, Dennis parker noted that Federal reserve printed more than bitcoin’s market cap in just a couple of weeks. Since mid-September Federal reserve has injected $210 billion in the country’s economy. Fed’s balance sheet jumped from $3.77 last month to $3.97 million this month.
According to the Federal Reserve’s own projections, the balance sheet is expected to reach $4.7 trillion by 2025. Fed has already lowered the interest rate twice this year. Currently, the market cap of the leading cryptocurrency is $148 billion. Recently, the Federal Reserve revealed that as a part of a new strategy, they would buy $60 billion treasury bills every month.
— Dennis Parker⚡️[Jan/3🔑] (@Xentagz) October 21, 2019
Many economists and businessmen have predicted a recession in the coming years. Earlier the former governor of Bank of England, Mervyn King said in a speech at the International Monetary Fund’s general meeting that the world is sleepwalking into a financial crisis even worse than that of 2008. Many have noted that bitcoin could play a vital role if an economic recession hits this time.