BITCOIN PRICE AND QE CLOSURE

The market has chosen the low road for the Bitcoin price. Leading into the Fed’s Policy Statement release at 18h00 UTC today, global markets are holding their breath: Will QE actually end this time and when will the Fed initiate the rates hikes that will cascade through global economies?
Fed Policy Statement
Tyler Durden of ZeroHedge sums up the madness in a comprehensive one-liner:
…by now it has become all too clear that the Fed itself has absolutely no idea what it is doing and has bet (all in) not only the (taxpayer) farm but all of (crony) capitalism, that it can solve every problem just by printing free wealth for 1% of the population while at the same time impoverishing the rest, leading to precisely the record inequality… that the Fed itself rails against.
What do readers think? Please comment below.
Global Economy
Gold, like Bitcoin, is recoiling from its $1,250 advance zone and is currently trading at $1,223.

This post was published at Crypto Coins News on October 29, 2014.