RATE Group | Bitcoin Rallies Above $8K After Two-Month Low
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Bitcoin Rallies Above $8K After Two-Month Low

11 Mar Bitcoin Rallies Above $8K After Two-Month Low

Posted at 00:04h in Bitcoin News by

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Bitcoin exceeded the $8,000 mark early Tuesday morning (March 10) before falling below the threshold at approximately 11:30 a.m. Eastern time. The digital currency experienced the rally after falling to two-month lows, CoinDesk reported.

The price of bitcoin was $7,983.22 as of 4:30 p.m. Eastern time, according to CoinDesk‘s real-time chart, marking a 24-hour change of 1.43 percent. The digital currency had traded under $7,000 in early January before breaking $10,000 in mid-February.

The bitcoin increases could continue in the event that equities keep becoming more balanced. Some digital currency fund managers have an optimistic outlook, with the rewards halving set for May.

Kenetic Co-founder and Managing Partner Jehan Chu told the outlet, “I expect bitcoin and the broader crypto markets to rebound quickly against the broader equity markets on the back of continuing wider adoption and strong sentiment.”

Chu continued, “I think…

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