November 9, 2020: Bitcoin and Crypto Market Roundup

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As results seesawed for days during the US election, Bitcoin emerged as a clear winner. The leading cryptocurrency hit highs above $15K, before pulling back slightly as media networks announced that Joe Biden will be entering the White House. The crypto rally was accompanied by a weakening dollar, which fell on expectations that president-elect Biden will push through more coronavirus stimulus measures. This boosted the S&P 500 to deliver its best week since April with 7% gains, but Bitcoin stole the show with a 13% surge. Elsewhere, the rally was supported by more bullish news. Demand has surged for PayPal’s crypto products, and central banks around the world — including in Canada, Thailand and Brazil — are pushing ahead with plans for digital currencies. This Week’s Highlights Ethereum staking launches Institutions drop gold for Bitcoin Ethereum staking launches This week marked a monumental milestone for Ethereum, which moved one step…

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