Bitcoin Price Rising Alongside Negative-Yielding Government Debt3.6

The pool of government debt with negative yields pushed past the $13 trillion-level last week, after the dovish outlooks in both the US and Europe intensified concerns over the health of the economy. Around the same time, a market that is entirely independent of the impacts the central banks’ policies netted approx a 275 percent year-to-date return.

Bitcoin on Wednesday settled a fresh 2019 peak just shy of the $14,000 level, erasing about 70 percent of the total losses incurred during a very depressive 2018, wherein the price fell from $20,000 to $3,100. The digital asset market allegedly reacted to a string of events that took place on a macroeconomic scale, which include the Federal Reserve’s declaration last week to cut interest rates in July, and the probability of the European Central Bank (ECB) to initiate a new round of quantitative easing program.

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