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This is no longer our grandparents’ or parents’ stock market: strategist

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

Reuters

Bitcoin is a “farce” – Amundi CIO

Cryptocurrencies such as bitcoin are a “farce” and a symptom of bubbles forming in financial markets, Amundi chief investment officer Pascal Blanque said on Thursday. Bitcoin, trading at around $39,364, fell 35% last month after China doubled down on efforts to prevent speculative and financial risks by cracking down on mining and trading of the largest cryptocurrency. Speaking at a news conference, Blanque described the crypto currency as a “farce,” adding that it was a symptom of the bubbles forming in markets.

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