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Bitcoin set to extend its 70% surge this year if key charts are right

Some analysts argue the token is being viewed as a hedge against the woes in the US and European banking sectors and benefiting from expectations of looser monetary policy

Photo: Bloomberg
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Photo: Bloomberg

Bloomberg
Bitcoin is hurtling toward a quarterly gain bigger than any since the start of 2021, the year when it went on to hit a record high.
 
Some analysts argue the token is being viewed as a hedge against the woes in the US and European banking sectors and benefiting from expectations of looser monetary policy to cushion economies from the fallout of those troubles.

“The behavior of the price through this crisis is going to attract more institutions,” Ark Investment Management’s Cathie Wood said on Bloomberg Television, referring to the unraveling of three US lenders and the emergency takeover of

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First Published: Mar 22 2023 | 11:00 AM IST

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