US Fed to Start QE Tapering, Crypto Market Remains Bullish — Analysis, 8 Nov

One of the main events of this past week was the U.S. Fed announcement of the beginning of the Quantitative Easing (QE) tapering. On Wednesday, November 3rd, the central bank decided to reduce the monthly amount of buying assets by $15 billion at its monetary policy meeting:Source: TwitterQE, a process of injecting liquidity by the Fed or — as many call it “printing money out of thin air” — has been one of the major drivers for the price increases in the financial markets for the last ten years. And, now, when the U.S. central bank is starting to taper this process, many experts think that the pace of increase of the prices of the financial assets may stop to decrease.Nevertheless, the crypto community doesn’t believe that the Fed will stop using its ‘printing machine.’ For example, Jameson Lopp, a famous Bitcoin enthusiast, said that: “It is easier for a camel to pass through the eye of a needle than for central banks to quit printing money.” And, Hashcash inventor, Dr. Adam Back agreed with him:Source: TwitterBitcoin maximalist Max Keiser expressed even a more extreme point of view on the Fed’s tapering process. He compared the central bank’s QE with a Ponzi scheme:Source: TwitterKeiser expects the Fed to continue its loose monetary policy until the dollar collapses and the U.S. economy disintegrates.Michael Saylor is another famous Bitcoin bull who expects a continuation of the loose monetary policy that, in the end, will destroy the U.S. dollar. In a recent interview on CNBC, the MicroStrategy CEO underlined that ‘Bitcoin will go up forever’ because fiat money is depreciating.Because the trust in fiat money is declining, the New York City Mayor announced that he is willing to receive his three first paychecks in Bitcoin and wants to transform New York into a…