Calls for Bitcoin Rally Grow as Britain Considers Negative Interest Rates

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Bitcoin traders have increased their bullish outlook on the cryptocurrency as the Bank of England reportedly considers moving into negative interest rates. According to a Telegraph exclusive published late Wednesday, the central bank is currently in the midst of a review of how negative rates could function in Britain. While a Reuters poll of economists shows a less likelihood of below-zero lending charges, Telegraph reports that they could come in the BoE’s November monetary policy decision. Analysts Canterin Clark and Lark Davish tweeted that they expect Bitcoin to grow further if the BoE news is accurate. Bullish on #Bitcoin — Cantering Clark (@CanteringClark) November 4, 2020 Bitcoin reached a three-year high above $14,000 in October 2020 amid a low-interest environment in 2020. The cryptocurrency’s rally started after the Federal Reserve decided to cut lending rates to near-zero in March. Coupled with an unlimited debt-buying policy, the US central bank…

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