This Is Why ‘Hedge Against Inflation’, Bitcoin, Dropped On Inflation Fears
Bitcoin (BTC) once again showed that it is indirectly correlated to macroeconomic factors that can move the stock market, and, in turn, affect the price of the most popular cryptocurrency that is often touted as an independent asset class. Bitcoin fell around 10% on March 4, from USD 51,680 to USD 46,550 in the early hours of March 5. At 14:35 UTC, BTC is trading at USD…
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