Bitcoin continued to move higher on Thursday, pushing past $23,000, despite a GDP report that showed second-quarter decline rather than growth. The negative 0.9% reading follows last quarter’s 1.6% decline and missed projections for a 0.5% increase in growth. Still, asset classes across the board responded favorably, with prices in both traditional finance and cryptocurrencies moving higher as investors saw evidence the economy is slowing at a slower, more desirable rate instead of plunging into recession.
Related posts
-
Peter Schiff Predicts Further Bitcoin Plunge Ahead of Mt Gox Payouts — Declares BTC in Official Bear Market
Economist and gold advocate Peter Schiff has highlighted bitcoin’s recent decline, declaring the cryptocurrency “back in... -
Will Bitcoin Have A ‘Red Monday, Green Week’?
Bitcoin (BTC) faced a sharp price drop as the last week of Q2 began. The dramatic... -
Florida lawmaker pitches ‘Bitcoin for Taxes’ bill
A Florida lawmaker has introduced a bill that would greenlight Bitcoin as an approved payment method...