Bitcoin (BTC) price has recorded higher highs and higher lows over the past week, beginning October 12, amid growing buying pressure. On October 16, t
Bitcoin price shattered the $29,000 barrier, recording an intra-day high of $30,207 before a pullback. Last time Bitcoin price made such a move was on October 16, steered by fake news of spot BTC ETF application approval. Foray is attributed to Jerome Powell’s speech, hinting at a possible pause in interest rate hikes at its next meeting. he price exploded with a significant margin, coming on the back of what proved to be false reports, but investors have not relented.
To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar , with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
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