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Bitcoin Jumps to 3-Week High Near $8,600 as Fed Plans New Round of Reserve Increases

From coindesk.com

Bitcoin (BTC) jumped 5.1 percent on Wednesday to the highest price in three weeks, after the Federal Reserve (Fed) said it would print money to expand the size of bank reserves – seen as a move by the U.S. central bank that could spark inflation. The top cryptocurrency surged to $8,587.29 as of 19:35 UTC time (3:35 p.m. New York time), according to CoinDesk’s Bitcoin Price Index. Bitcoin suffered a steep drop in late September, tumbling from above $10,000, a move analysts attributed to big margin calls on the Bitmex exchange and disappointment over the debut of a new futures contract on the Intercontinental ... (full story)

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  • Category: Fundamental Analysis