Bitcoin Price Gets Fed Boost, but Bond Yields Could Play Spoilsport: Analysts

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Bitcoin Price Gets Fed Boost, but Bond Yields Could Play Spoilsport: Analysts

coindesk2021-03-18

Bitcoin’s bull run looks set to continue after the Federal Reserve reconfirmed its pro-stimulus stance this week.“The narrative forbitcoinas the preferred store of value has only strengthened in the ...

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Jazling
·2021-03-19
Wow
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- Jazling:
  Ok
  2021-03-19
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jeremiahlo
·2021-03-18
nice bitcoin to the moon
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Wallstrtbets
·2021-03-18
Omg
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oneplus374
·2021-03-18
pretty nice!
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- alexteoh90:
  comment me
  2021-03-21
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Wzhang
·2021-03-18
Nice
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- lgnt:
  Good
  2021-03-18
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TsLaPlTr
·2021-03-18
Hello
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The central bank head added that it was “not yet” time to talk about reducing the central bank’s liquidity-boosting asset purchases.Bitcoin picked up a bid near $55,500 following the Fed and rose nearly to $59,500 early today.According to Denis Vinokourov, head of research at trading sentiment data provider Trade the Chain, further gains could be in the offing due to the Fed’s decision to raise the per counterparty limit in the overnight reverse repurchase operations from $30 billion to $80 billion.“The hike implies that the Fed wants to keep overnight rates [short-term borrowing costs] low,” Vinokourov said. “Thus, its dollar-negative and in turn should spur on flow back into assets.”Besides, with the Fed-related uncertainty out of the way, bitcoin and the broader crypto market may now see a “stimmies’ rally,” astweeted bytrader Alex Kruger. 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