Bitcoin Ducks Nasdaq Correlation as Price Hits Two-Week High

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Bitcoin stepped away from tailing price trends in the Nasdaq Composite, helped by more signs of institutional interest in the cryptocurrency sector. The BTC/USD exchange rate surged 3.96 percent to $54,489—a two-week high—after a report from Goldman Sachs revealed that 40 percent of its clients now have exposure to cryptocurrencies and 70 percent of them believe the cost to purchase one bitcoin would hit $100,000 in 2021. Goldman’s report surfaced a week after it announced that it would relaunch its cryptocurrency trading desk. The banking giant had closed the said platform in 2018 in response to Bitcoin’s wild downside moves that ultimately saw its prices crashing from $20,000 to $3,200 in just a year. But between March 2020 and February 2021, the flagship cryptocurrency soared above $58,000 from $3,858 as traders and investors purchased it as insurance against the global central banks’ quantitative easing programs. Speculators noted that Bitcoin’s limited…

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