Despite some volatility in price, bitcoin has risen 7% in the past seven days, trading in a range of between $27,000 and $30,000. The world’s largest cryptocurrency by market value rose 1.2% over the last 24 hours to $29,307. Some analysts say instability in traditional banks has helped bitcoin, which is seen as an alternative to traditional finance. One troubled bank is San Francisco-based First Republic Bank (FRC), whose shares dropped 50% on Tuesday after it revealed its deposits fell by $100 billion in the first quarter. That comes as the broader economy is slowing down. On Thursday, the Commerce Department said the U.S. economy grew at a 1.1% annualized rate in the first quarter, below analysts’ estimates of 1.9%.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Source: https://www.fintechnews.org/bitcoin-ending-week-on-positive-note/
- :has
- :is
- 000
- 1
- 2%
- 24
- a
- After
- alternative
- an
- Analysts
- and
- annualized
- AS
- At
- Bank
- Banks
- below
- between
- Billion
- Bitcoin
- broader
- by
- Coindesk
- comes
- Commerce
- cryptocurrency
- Days
- Department
- deposits
- down
- dropped
- economy
- estimates
- finance
- First
- helped
- HOURS
- HTTPS
- in
- instability
- IT
- ITS
- jpg
- largest
- Last
- Market
- market value
- of
- on
- ONE
- over
- past
- plato
- Plato Data Intelligence
- PlatoData
- positive
- price
- Quarter
- range
- Rate
- Republic
- Revealed
- Risen
- ROSE
- s
- Said
- San
- seen
- seven
- Slowing
- some
- that
- The
- to
- Trading
- traditional
- traditional finance
- Tuesday
- value
- Volatility
- week
- which
- world’s
- zephyrnet