Bitcoin

<ul><li>Bitcoin skyrockets to $36,000, reflecting intense market reaction to U.S. inflation and soaring national debt.</li><li>Economic expert Ray Dalio highlights risks in escalating U.S. Debt Cycle, eying on cryptocurrency implications.</li><li>Federal Reserve&#39;s rapid interest rate hikes amid inflation acts as a bullish scenario for cryptocurrencies, according to experts.</li></ul>Amidst a backdrop of economic uncertainty and inflationary pressures, the cryptocurrency market, led by Bitcoin, Ethereum, and XRP, has witnessed significant price movements this year. Bitcoin, in particular, has seen its <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">value surge</a> to $36,000, doubling over the past 12 months. This rally has bolstered the wider cryptocurrency market, with Ethereum and XRP also experiencing substantial gains.The surge in cryptocurrency prices coincides with a period of heightened global inflation, often referred to as &#34;<a href="https://www.forbes.com/sites/digital-assets/2023/10/29/global-wartime-inflation-shock-25-trillion-predicted-fed-flip-to-trigger-a-1-million-bitcoin-ethereum-xrp-and-crypto-price-boom/?sh&#61;6bed0ea02e92" rel="noopener noreferrer nofollow">global wartime inflation.</a>&#34; This economic climate has been further exacerbated by the U.S. national debt reaching a staggering $33.7 trillion. Ray Dalio, the founder of Bridgewater Associates, the world&#39;s largest hedge fund, recently <a href="https://www.cnbc.com/2023/11/17/ray-dalio-says-us-reaching-a-point-where-our-debt-problem-gets-even-worse.html" rel="noopener noreferrer nofollow">highlighted</a> the critical nature of this debt accumulation. In a statement to CNBC, Dalio emphasized the accelerating debt cycle, stating the need for &#34;more and more into debt&#34; as spending levels are maintained.The U.S. government&#39;s response to the COVID-19 pandemic, involving substantial <a href="https://www.usaspending.gov/disaster/covid-19" rel="noopener noreferrer nofollow">fiscal spending</a>, has also played a significant role in this debt increase. In fiscal 2023 alone, the U.S. reported a $1.7 trillion deficit, with $659 billion allocated to finance the debt&#39;s net interest costs. This scenario has led to concerns about a potential &#34;<a href="https://www.forbes.com/sites/digital-assets/2023/10/03/elon-musk-declares-the-us-dollar-a-scam-amid-fears-of-33-trillion-us-debt-death-spiral-as-the-bitcoin-price-soars/" rel="noopener noreferrer nofollow">debt death spiral,</a>&#34; as articulated by Tesla CEO Elon Musk and others.Read full article at <a href="https://cryptotale.org/federal-reserves-interest-rate-hikes-spur-investor-confidence-in-bitcoin/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Federal Reserve's Interest Rate Hikes Spur Investor Confidence in Bitcoin

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