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Will Bitcoin Surge Past $12,000?

by CBDC Insider
October 20, 2020
in Business, US
Reading Time: 1min read
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Will Bitcoin Surge Past $12,000?
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Bitcoin’s price has been gathering strength despite the flurry of negative news trends lately including the Financial Conduct Authority (FCA) of the UK banning crypto derivatives; US stimulus talks stalling and KuCoin suffering a hacking attack last month.

Nevertheless, the digital currency continued to climb, touching the $11,800 level.The world’s largest digital currency traded 2.37 percent higher at $11,732.68 on Tuesday, said CoinDesk data.

US Elections: 2020 U.S. Presidential Elections remain a strong viewpoint for investors, as the correlation between USD/BTC stands inverse. Therefore, a weakening in dollar will be a boon for BTC.

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Fed Reserve’s move: The crypto community is also closely watching Federal Reserve’s move in the digital currency space. US Fed Chairman Jerome Powell’s recent comment has put bitcoin’s rally on-hold.

Read more: https://www.cnbctv18.com/market/currency/will-bitcoin-surge-past-12000-here-are-triggers-that-could-drive-its-rally-in-future-7248481.htm

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