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CryptoWatch: Don’t expect an immediate price bump from good news, says crypto fund manager

Bitcoin and major cryptocurrency prices were largely unchanged on Wednesday morning.

Bitcoin, the world’s largest digital currency, has been seesawing between $6300 and $6,500 for the last eight trading sessions and that trend was continuing Wednesday, with a single bitcoin BTCUSD, +0.71% last going for $6,467.64, up 0.5% since Tuesday at 5 p.m. Eastern Time on the Kraken exchange.

The digital currency community got a further stamp of approval Tuesday when Coinbase, one of the largest U.S. cryptocurrency exchanges, said it would be offering support to Circle’s stablecoin, the USD Coin. In unrelated news, Coinbase said it had been granted approval to become a qualified custodian for digital assets in New York state.

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