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Still, a number of analysts were optimistic about bitcoin’s price in the near future, given the bank sector’s calamities. “Bitcoin, straddling between being the leading risk-on asset and a financial lifeboat in the event of an all-out banking crisis, has benefitted from the recent turmoil and now the prospect that the Fed’s tightening could be over,” James Lavish, managing partner at Bitcoin Opportunity Fund, told CoinDesk in an email.
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