Bitcoin and Ethereum are Beginning to Merge with the Financial System

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Bitcoin’s price fell slightly during the weekend from $9,200 to a brief $8,800. Now, it is back to $9,200. This is becoming a common occurrence and one good guess would be it’s because traditional finance does not work during weekends. Stock exchanges, foreign currency exchanges, commodities trading, everything closes on Saturday and Sunday. Bitcoin is traded globally in thousands of exchanges, so it has no weekend, and therefore the weekend shouldn’t make a difference. That was usually the case, but nowadays more and more volumes tend to fall and it tends to be a lot quieter during weekends. So suggesting bitcoin is being used as a hedge of sorts in traditional financial systems and is more and more being traded on Wall Street and likewise places. In Europe there are now a number of ETPs as well, and Canada even has just recently launched a proper Bitcoin ETF on their…

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