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Bitcoin surpassed $66,500 during Nov. 8 as major BTC gains seemed unfazed by Tesla (TSLA) stock losing 5% at the Wall Street open. 

Global investment bank JPMorgan has doubled down on its Bitcoin price prediction of $146K. 

The JPMorgan analyst added: “The re-emergence of inflation concerns among investors during September/October 2021 appears to have renewed interest in the usage of bitcoin as an inflation hedge.” 

Reiterating his “bullish outlook” for BTC made in October, he wrote:

“Bitcoin’s allure as an inflation hedge has perhaps been strengthened by the failure of gold to respond in recent weeks to heightened concerns over inflation.”

In other trending Bitcoin News today: Ethereum back in price discovery as ETH approaches $5K!

Ethereum blockchain’s native asset Ether (ETH) touched a new record high on Nov. 8, supported by a rally across the top cryptocurrencies ahead of a key U.S. inflation report this week.

ETH price rose by 3.30% in the past 24 hours to $4,770 for the first time in history as Bitcoin reclaimed $66,000, demonstrating the strong positive correlation between the two digital assets.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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