Bitcoin Price Doubles in Institutionally-Driven First Quarter; What’s in Q2?

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Bitcoin went into an upside mania in the first quarter of the year. The flagship cryptocurrency surged by roughly 102 percent as investors showed no fears of risk-taking. On the contrary, they embraced it as interest rates on government bonds rose but remained near their historically low levels. New rounds of government stimulus packages further pushed investors to risky corners of the market, showing a lot of fiat liquidity in the market, waiting to enter speculative assets. What a Quarter! When 2021 began, bitcoin investors did not know that Democrats would sweep both the House and the Senate. But as the so-called blue sweep happened, it paved the way for their leader, the US President Joe Biden, to push through an expansive stimulus package than many had anticipated. Next month saw one of the most celebrated bitcoin investments ever made, led by Elon Musk’s Tesla, which added $1.5 billion worth…

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