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Bitcoin creeps higher as global currencies tumble — Weekly Crypto Roundup

From etoro.com

As global currencies including the British pound tumbled amidst global market mayhem last week, Bitcoin climbed back towards $20K. The move higher was driven by news from The Bank of England. On Wednesday, the central bank announced that it would react to the plunging pound by starting to buy bonds, prompting speculation that other global central banks would also intervene to stabilize markets. This triggered upside for Bitcoin, which is often seen as a hedge against monetary policy blunders. Yet the turmoil also provoked dire warnings from top investors, with both Stanley Druckenmiller and Citadel’s Ken Griffin ... (full story)

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  • Category: Fundamental Analysis