Jeffrey Tucker
A New Currency for the Digital Age
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Avenue to bypass the banking system. The potential for cryptocurrencies to provide a hedge against economic uncertainty is no secret, as evidenced by Bitcoin's price gains during the pandemic. But now, Bitcoin buyers are moving on to new hedge-fueling strategies, as the shift toward digital identification by governments is also driving demand for crypto. Bitcoin set for first-ever weekly Golden Cross; Start of BTC bull run? However, the recovery path is lengthy, as BTC is still down almost 37.75%, from its all-time high. At the start of the year, Bitcoin plunged below the level of $20,000. But due factors such as the deepening banking crisis in the U.S., the weakening of the dollar index and cooling inflation have been able to bring back Bitcoin and other digital currencies to lead the path of resistance. So, it is not wrong to say that the recent U.S. financial crisis has increased the appetite for cryptocurrencies.