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Everything Is Working Against Bitcoin Right Now

From financemagnates.com

This is turning into a better week for the world’s most popular cryptocurrency after Monday’s sharp sell-off. But Bitcoin continues to struggle to generate meaningful momentum. As David Morrison, Senior Market Analyst at Trade Nation, observes, risk appetite has been undermined by the ongoing conflict between the US and Iran, while rising oil prices and inflation concerns have strengthened expectations for tighter monetary policy. Higher interest rates generally reduce the appeal of non-yielding assets such as cryptocurrencies, contributing to continued selling pressure across the sector. The combination of ... (full story)

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  • Category: Fundamental Analysis