Bitcoin No Longer Seen as the Driving Force in Crypto Market

Brandon Kochkodin of Bloomberg –

Bitcoin has plunged more than 30% since hitting a year-to-date high. That fact is clear, but explaining why the world’s largest digital currency has lost momentum in the second half of the year is anything but.

Some, like JPMorgan Chase & Co. have pointed to Intercontinental Exchange Inc.’s new futures contracts and an unwinding of long positions as likely culprits for the nosedive. Others have pointed to a buildup of technical bearish signals as setting off its summer swoon.

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Known as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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