Bitcoin is experiencing an epic rebound. After falling to a low of about $62,650 on Aug. 16, the cryptocurrency climbed to roughly $80,000 this week, putting the rally from that recent bottom at about 27%.
Crypto market observers are touting several reasons for the turnaround, including renewed optimism around U.S. crypto regulation via the CLARITY Act and a short squeeze that forced more than $4 billion in bearish crypto positions to be liquidated. But bitcoin proponents also say the risks that come with a global financial system heavily dependent on one country’s currency and financial infrastructure are becoming too obvious to ignore.
The Un…
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