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Unexpected increase in Cryptocurrency prices caused due to algo trading

Updated: Jun 3

According to this Bloomberg article, Bitcoin saw a sudden surge because of the workings of automated trading systems.

It also states that fund houses using algorithmic trading had significant profits while the rest of the cryptocurrency market was going through a steep downward curve.

Clearly, the use of algo trading is fast spreading, not just through equity markets but across all asset classes like cryptocurrency, commodities, foreign exchange, etc

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