Tuesday, April 2, 2019

Central bank buyer?

LONDON (Reuters) - Bitcoin soared to its highest in almost five months on Tuesday, pulling smaller cryptocurrencies up with it, after a major order by an anonymous buyer set off a frenzy of computer-driven trading, analysts said.
The original cryptocurrency soared as much as 20 percent in Asian trading, breaking $5,000 for the first time since mid-November. By mid-afternoon, it had settled around $4,800, still up 16 percent in its biggest one-day gain since April last year.
If bitcoiners are hedging moves by central banks then central banks will learn to buy bitcoin prior to easing and selling bitcoin prior to tightening.  We shall soon see.

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