Bitcoin Up 20% in July. Stonks Not So Much.
Bitcoin’s price pushed as high as $11,460 on increased buying volume Friday, continuing its bullish run to cap a week of economic uncertainty.
“The US Q2 GDP results were rough and traditional markets are seeing a bit of risk off - a sharp move lower in yields and weakness in stocks,” Dan Koehler, liquidity manager for cryptocurrency exchange OKCoin, told CoinDesk. “It’s a crucial time for bitcoin in my view.”
Indeed, stocks are taking a beating Friday, with major global indexes down or flat.
“The US Q2 GDP results were rough and traditional markets are seeing a bit of risk off - a sharp move lower in yields and weakness in stocks,” Dan Koehler, liquidity manager for cryptocurrency exchange OKCoin, told CoinDesk. “It’s a crucial time for bitcoin in my view.”
Indeed, stocks are taking a beating Friday, with major global indexes down or flat.
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