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Bitcoin Rises as Rates Drop
The Bitcoin market has risen a bit during the early hours on Thursday as interest rates in America rolled over a bit. Let’s be honest, the interest rates in America have been very strong as of late and that is something that works against the value of Bitcoin pretty quickly as it’s a risk barometer.Remember, Bitcoin is pretty far out on the risk appetite spectrum and as a result, traders tend to look to it when times are good and run from it when times are bad. The higher yields offered in the bond market make it a much more attractive scenario than a non-yielding asset. A lot of money managers will just park ... (full story)
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