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Bitcoin (BTC) rose Thursday for the fourth straight session and briefly climbed above $7,000 for the first time in three weeks.
To those who believe in a digital future in which decentralization makes systems more resilient, the coronavirus crisis has expedited the inevitable.
Seismic shifts might be in the offing for the global monetary system — a phenomenon that historically has occurred in the wake of world wars.
Drastic measures are being taken by the Federal Reserve as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses.
The pumping of trillions of dollars of fresh liquidity into the financial system recalled the central bank’s unprecedented efforts during the last crisis.
Bitcoin suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies.
Bitcoin prices slid for a fifth straight day, but the bigger news is what the N.Y. Fed and Christine Lagarde's ECB do next.
Crypto lender BlockFi now supports cash deposits.
As traditional markets undergo a level of anxiety not seen since the 2008 recession, the cryptocurrency industry showed few existential signs of distress.