On Monday, bitcoin spiked by more than 5% to breach $66,000 for the first time in nearly three years. Ether, solana, dogecoin, and other tokens are also staging rallies.
The last time around, the rally was driven by low-interest rates that encouraged speculative behavior. When the Federal Reserve started hiking rates to curtail high inflation, the momentum ran out, and Bitcoin plunged to $16,000 less than a year after hitting records.
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