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Bitcoin crashes up to $8,800 as the Fed party looks to never stop
Happy Wednesday, Blockfolians
Bitcoin is absolutely SMASHING today. With a current price of over $8,800 bitcoin is up over 14% on the day.
While it’s dangerous to ascribe price movements to any one exogenous event, the fact is that the Fed reinforced today (as encapsulated by chair Jerome Powell’s quote in the subject line) that it will do whatever it takes to keep the markets propped up.
With the halving less than two weeks away, the contrast with “money printer go brrr” couldn’t be more clear.
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Highly Relevant Reading
Silvergate Bank added 46 new crypto customers and saw increased deposits in Q1
CardCoins becomes the latest bitcoin company to directly support a bitcoin core dev
Data analytics and now trading platform Skew announces $5m venture round
New data from Glassnode suggests that the number of small holders of bitcoin is growing rapidly
It is an undeniable truth that, when number go up, more people come to play
Jake just says what we’re all feeling.
A Really Big Number We Should Be Paying Attention To
That’s the reported revenue for Bitmain in the first four months of 2020. Wow!
Could we see a surge of local currencies?