RATE Group | Bitcoin: Crypto making a comeback as Italy’s political crisis mounts
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Bitcoin: Crypto making a comeback as Italy’s political crisis mounts

30 May Bitcoin: Crypto making a comeback as Italy’s political crisis mounts

Posted at 09:41h in Bitcoin News by

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Crypto markets are making a big comeback as political uncertainty grips Italy and Europe.

At the time of writing, a number of major cryptos were sporting big gains, including ethereum and bitcoin cash. Bitcoin, the largest cryptocurrency by market capitalization, was trading up 4.8% at $7,446 a coin, according to Markets Insider data.

Bitcoin rallied close to $10,000 soon after the close of Tax Season in the US, but is down by more than $2,000 since the beginning of May.

Market observers noted that Tuesday’s rally was occurring at the same time as political uncertainty in Italy gripped financial markets.

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“Bitcoin finally catches a bid after Italian 2-year yield spikes 155bps – Italy’s new 5 Star party threatens exit from Eurozone which has once again put the Idea of a Euro breakup in the forefront of investors minds,” John Spallanzani, a portfolio manager at Miller Value Partners, said in an email to Business Insider.

A deepening political crisis in the eurozone’s…

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