Bitcoin had its best weekly return since 2017 last week , and the rest of the cryptocurrency market is now following suit.Here are 3 reasons why the crypto bull market may have returned sooner than expected.
Born out of the 2008 banking crisis, cryptocurrencies were created to address the problems we’ve seen emerging today and to offer an alternative financial system that is more efficient, transparent and decentralised from government control. As earlier noted, rising interest rates reduce the value of bonds. As a result, the Fed is now in a position where, if it continues to raise rates aggressively, it will further reduce the value of the government bonds that they hold as collateral.
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