Washington DC – Federal Reserve Chairman Jerome Powel stated that the US could destabilize Bitcoin by creating their own national digital currency. Shortly after, Bitcoin immediately sunk.
It is predicted, however, that Bitcoin rallied on support from major American tech companies including Tesla and its founder Elon Musk.
As of Saturday, Bitcoin rose to nearly $34,000. It appears that this could be short squeeze territory as sellers cover short positions.
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July 11, 2020 at 11:04 am
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