Market Wrap: Bitcoin and Other Cryptos Gain for Second Straight Week (

Digital assets have been rallying despite the Fed’s rate hike and the decline in GDP.

Bitcoin’s (BTC) finished the week 5% higher, gaining ground for the second consecutive week. It was also the third positive week in the last four for the largest cryptocurrency by market capitalization.

Bitcoin pushed higher even after the U.S. Commerce Department reported on Thursday that the U.S. gross domestic product declined for the second consecutive quarter, which means the country is in a recession according to the technical definition that two quarters in a row of declining GDP is a recession.

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Posted by Modpatt

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