Bitcoin rebounded from its roller-coaster weekend, with prices on track for the biggest gain in more than three months. The cryptocurrency was trading 12 per cent higher around $37,655 as of 10:58 am in New York. It climbed as high as $38,683. Digital currencies have been gripped by volatility in the past two weeks, with Bitcoin prices plunging 18 per cent on Sunday.
Traders may be feeling more positive as the crypto industry holds one of its biggest conferences of the year. Federal Reserve Governor Lael Brainard noted at the Consensus conference that a big issue for central banks with regard to a digital currency is the impact on the financial system. If people can keep digital dollars in a wallet that’s unrelated to a bank account, and easily use that wallet to make payments and transfers, that then undermines the commercial banking system, Brainard said. It could starve the banks of deposits, which of course are vital for making loans, she noted.
Bitcoin bounces back above US$37,000 after weekend selloff
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Bitcoin surges the most since February after weekend selloff
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cash is trash, suggesting investors should diversify into gold. You can t jump into cash. Cash is trash, says @RayDalio. You have to have a well-diversified portfolio, you have to be global, and you have to have balance.and you have to have a certain amount of gold in your portfolio. pic.twitter.com/lZqCnvsqBh Squawk Box (@SquawkCNBC) January 21, 2020
investing in UST bonds (and most financial assets) has become stupid.”
And last month, the founder of the world s largest hedge fund warned that the United States could become perceived as a place that is inhospitable to capitalism and capitalists under the Democrats and his firm got behind