Bitcoin (BTC) rose 5% over the last 24 hours, reaching an important psychological level of $20,000 as global markets climbed, lifting U.S. index futures and European stocks. The move comes as investors were eyeing whether central banks will have to slow their pace of monetary tightening.
"Investors know that the stronger the U.S. dollar, the more sell pressure on BTC," said Charles Storry, head of growth at Phuture, a crypto index platform.
“Many investors feel the Fed could pivot and drop interest rates as the Bank of England just did. This would trigger a large buying opportunity for BTC, which is extremely bullish,” Storry said.
In the news, Grayscale Investments, which offers the world’s biggest bitcoin trust, is bringing a key administrative role for all of its products in-house through a new broker-dealer unit.
Grayscale Securities, the new broker-deal division, will handle selling shares of the company’s crypto trust products, taking over a function previously provided by...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...