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31 May 2020

Bitcoin Drops Over 3% Despite Golden Cross and Bank Calls for More US Stimulus - CoinDesk

Bitcoin Drops Over 3% Despite Golden Cross and Bank Calls for More US Stimulus - CoinDesk


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trading hours, even though major investment banks like JP Morgan and Goldman Sachs called for an increase in the size of the inflation-boosting government bond purchase programs run by the Federal Reserve and other major central banks. Bitcoin is increasingly eyed as an investment alternative that isn't prone to inflation.

As a result, analysts at JP Morgan think the central banks would have to ramp up their bond purchase programs in order to keep yields depressed.

While, Wednesday’s price dip was an opportunity for investors to snap up bitcoin amid bullish macro developments, the weak bounce suggests most chose to remain on the sidelines. 

The rally was likely fueled by the bullish narrative surrounding the reward halving, which took place on May 11, and due to the unprecedented amounts of liquidity injected by major central banks into the traditional markets

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Litecoin (LTC) Price Analysis: Facing Key Hurdles Near $45
published: 2 days ago
Litecoin price is showing signs of an upside correction against the US Dollar, similar to bitcoin. LTC price must clear the $45.00 hurdle to start a sustained upward move in the near term.

sentiment (-0.3) Negative

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