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What is behind Wall Street’s renewed interest in Bitcoin and other cryptos?

What is behind Wall Street’s renewed interest in Bitcoin and other cryptos?

Khurram Shroff, Chairman of IBC, or International Blockchain Consulting Group, believed that cryptocurrencies could replace bullion in the future. Speaking about Wall Street’s “renewed interest” in crypto markets, the Dubai-based executive also believed that Bitcoin’s scarcity “helped maintain buoyancy” in such markets. Shroff said in a report:  Decentralized cryptocurrencies are sparking renewed interest on Wall …

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First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns

First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns

In a redux of trading from the early days of the coronavirus crisis in March, bitcoin tumbled Thursday in tandem with a sell-off on Wall Street – rekindling an ongoing debate over the cryptocurrency’s use as a store of value. Prices for bitcoin fell 6.37% to about $9,100, as the Standard & Poor’s 500 Index …

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‘Sell in May’ Wall Street Adage Doesn’t Apply to Bitcoin, Data Suggests

‘Sell in May’ Wall Street Adage Doesn’t Apply to Bitcoin, Data Suggests

The old Wall Street maxim “sell in May and go away” is detrimental to bitcoin investors, market data from Messari suggests. The largest cryptocurrency generated positive returns during eight of the past 10 Mays, outperforming its monthly average for that year during six of them.  “Sell in May” refers to an old investment strategy that …

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