.RobinBrooksIIF cautions that Bitcoin's recovery is due to the Fed's dovish stance, not the cryptocurrency's inherent qualities
has experienced a surge. The bellwether cryptocurrency recently surpassed the $28,000 mark, with the price increase being mostly fueled by investors and traders who hope the Federal Reserve may pause interest rate hikes or even cut rates. Currently, the largest cryptocurrency is trading at $27,713 on the Bitstamp exchange.to share his thoughts on the Bitcoin surge.
The IFF economist emphasized that there's nothing unique in how Bitcoin trades and called it just another bubble asset that fluctuates with the Fed's decisions.
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