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NewsBTC 2020-05-05 12:02:20

Bitcoin 13% Upsurge in Tandem with Stocks Show It’s Not a Safe Haven

Bitcoin’s wild upside move on April 29 led a veteran trader to rubbish the cryptocurrency’s safe-haven narrative. Former eToro executive Mati Greenspan said pumping behavior robs bitcoin off its hedging qualities. He added that the cryptocurrency risks falling because of its record correlations with the U.S. stock market. When markets fall drastically, investors extract their...

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