Bitcoin Rallies Against Modest Uptick In Inflation
In midday trading Wednesday, Bitcoin changed hands at $56,864.92, up 5.36% in the last 24 hours, CoinDesk reported. In the last five days, Bitcoin, the leading cryptocurrency based on its $1 trillion market cap, has rebounded from about $47,000. It reached its all-time high of $58,332.36 in February. “The narrative that Bitcoin is a good hedge against inflation is, in our view, a robust one that appears to be firmly adopted by key players in the market for the time being,” Jason Deane, Bitcoin Analyst, Quantum Economics, London, told Newsweek....