Business Maverick: Bitcoin extends its longest winning streak since pandemic days

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A prolonged rally in Bitcoin is giving crypto enthusiasts a smidgen of something to be happy about during a dark period for the industry.

The world’s largest token has advanced for nine straight days, the longest such streak since 2020, according to data compiled by Bloomberg. Bitcoin has added more than 10% this month and second-largest token Ether about 17%.

Bets that inflation is cooling and that the Federal Reserve will slow the pace of interest-rate hikes have helped all manner of assets at the start of 2023. For Bitcoin, the recent gains are a stark contrast to last year’s slump of more than 60% amid a series of crypto blowups, including the fall of the FTX exchange.

 

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Long may it continue. If it follows the past 13years trends then 23,24,25 will be 3 good years of rallies. 26 slump. 27, 28, 29 another rally. 30 slump, 31, 32,33 rally....i sell some of my crypto then😁

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