Fed Chairman Powell Validates Bitcoin as a Store of Value in Front of US Senate

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Bitcoin and the aggregated crypto markets have been facing tremendous selling pressure over the past couple of days which was sparked by BTC’s rapid surge into the $13,000 region. Although this drop is certainly negative from a technical perspective, it is important to note that the cryptocurrency is still incredibly fundamentally robust. One such example of Bitcoin’s fundamental strength can be found while looking towards Fed Chairman Powell’s recent comments about Bitcoin, where he described it as a perceived alternative to gold – a statement that is largely being interpreted as having bullish undertones. Fed Chair Powell: Cryptocurrency and Bitcoin Could Diminish Need for Federal Reserve Currency Powell made the comments that are sparking excitement within the cryptocurrency community during a recent testimony in front of the US Senate, where he covered a broad range of topics regarding the US and global economy, while also setting the stage for a…

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