23 Nov COTW: Here We Go Again
Reminiscent of late 2017-early 2018, risk assets are rallying into year end and bitcoin is leading the charge as it nears its December 17, 2017 high of $19,041. Year-to-date, bitcoin is up 156%, trouncing the otherwise strong gains seen in the tech sector (+31%) and gold (+21%).
A catalyst for the recent rally is PayPal’s announcement authorizing the use of bitcoin on its platforms generating optimism and speculation that it is getting closer to mainstream adoption as a form of payment.
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