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Why bitcoin hasn’t joined the latest meme stock craze this week
Bitcoin isn’t running alongside meme stocks as it did three years ago, although this week’s stock market action might indicate a big crypto rally is on its way. GameStop and fellow meme stock AMC Entertainment are each up more than 160% over the past two days. Meanwhile, bitcoin is little changed, down just 0.1% in the same period, according Coin Metrics. In 2021, by contrast, GameStop and AMC rallied 821% and 373%, respectively, from January through April. Bitcoin’s gains in that time, though more modest, still came to 96%. “This isn’t 2021 when the world was locked down and awash with liquidity,” said ... (full story)