Bitcoin bounces back from $60,000

Geopolitical tension and the upcoming US presidential election probably will it advocates “degradation trading” and this favors both bitcoin and goldJPMorgan said in a research report on Wednesday. “A Trump victory in particular, in addition to supporting bitcoin from a regulatory standpoint, would likely strengthen the ‘degradation trade’ through both tariffs (geopolitical tensions) and expansionary fiscal policy (the “devaluation debts”)”, the analysts. he wrote. If the “Trump trade” plays out in a similar fashion to 2016, there should be higher US Treasury yields, a stronger dollar, an outperformance of the US stock market, especially banks, and spreads of tighter credit, JPMorgan said. This change has not happened yet, only a small move higher has been seen in these markets.