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Bitcoin Plummets, Dashing Hopes of a Quick Return to Its Record High

Bitcoin Plummets, Dashing Hopes of a Quick Return to Its Record High

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“Bitcoin may continue to attract inflation hedges, but if pricing pressures trigger rapid rate-hiking action from the Fed, that could trigger a massive wave of risk aversion that would penalize cryptos,” wrote Edward Moya, senior markets analyst for the foreign-exchange dealer Oanda.

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