Market Wrap: Bitcoin Faces Long Odds in Bid for Sixth Straight Monthly Gain
Bitcoin started March nicely but whether it can match its previous winning streak is yet to be seen.
Investors are speculating how a faster-than-expected economic rebound might benefit bitcoin.
Bitcoin prices quadrupled last year and have rallied 66% this year on speculation the cryptocurrency could serve as an inflation hedge.
Bitcoin's price climbed for a fourth straight day, even as 10-year bond yields continued their march toward 1.6%.
A gain this month would mark the sixth straight monthly increase for bitcoin, the first time that’s happened in seven years.
Bitcoin bulls struggle to pare the weekend's losses despite a strong start on Monday.