Bitcoin Rise May Appeal to Investors amidst Intensifying Geopolitical Risks5.6

The bitcoin price has soared this week on the prospects of Fed rate cut, the Facebook coin, and uncertainty due to the US-China trade war.

The world’s leading cryptocurrency rallied on Saturday, with its price flying past the $10,000 level for the first time since March 8 last year. Investors allegedly bid up bitcoin in expectations of more US dollar flowing into the markets. On Wednesday, Jerome Powell, the chairman of Federal Reserve, indicated that the US central bank would cut interest rates next month, prompting investors to take their money out of the US Treasuries.

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