Estimated reading time: 0 minutes, 30 seconds

Bitcoin Rally Likely Tied to U.S. Election: Expert

As Bitcoin pushed passed the $16,000 mark, some experts have speculated the U.S. presidential election might be behind the rally. So reports CNBC.

bitcoin 2008262 640smallThe value of Bitcoin has not been this high since early 2018. Nicholas Pelecanos, an expert cited in the article and the head of the NEM crypto trading exchange, said the prospect of more stimulus, which both sides seem to want, is good for both equities and Bitcoin. Other explanations for the jump include investors hedging against the devaluation of fiat currency due to COVID-19 stimulus and wider-spread acceptance from companies like PayPal.

Read the full article from CNBC.

Read 166 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.