The FED Tapering: How does it relate to Crypto Space?

What is Tapering? Why is it introduced?

The global economy was brought to a standstill with the shock introduction of the Covid Pandemic resulting in massive lockdowns and social distancing, to say the least. This put a halt to a decade-long positive Global GDP growth which had been soaring to positive numbers before 2020’s decline at — 4.9%. As the world slowly realized that Covid would take years to recover, the government had to put measures to keep the economy and business afloat during these trying times.

Source: https://www.dreamstime.com/text-fed-tapering-easel-office-tools-paper-top-view-business-text-fed-tapering-easel-office-tools-paper-image242612793

Does it correlate to Crypto Space?

The Crypto Space has been flying to the moon as it reaches an all-time high in 2021 with the $3 Trillion Mark in November that year, most of the growth was the result of people being at home and the hype of the crypto space which manages to attract many new people into the space. Also part of it was because of the huge increase in monetary stimulus provided by the government that most of them may have flown to the market.

Source: https://www.gettyimages.in/photos/cryptocurrency

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Nagaya Technologies

Nagaya Technologies

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NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/