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Why DeepSeek AI is good for Bitcoin 🤔
Yes, really, the upstart ChatGPT competitor could have an effect on the price of Bitcoin, argues Standard Chartered.
Stacy Elliott
January 29, 2025
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📝 What you need to know
First, the obvious: DeepSeek has nothing to do with Bitcoin, Standard Chartered’s Geoffrey Kendrick told Decrypt. But there’s also this to consider: Because DeepSeek means the price of AI is lower, “it actually lowers inflation and is good for risk assets (like Bitcoin) which have no-AI presence,” he added.
Kendrick expects Bitcoin to continue to rebound in the coming days, although the strength and timing of any return will depend on Jerome Powell and the rest of the FOMC.
“Risk assets will now wait for the Fed to pass tonight,” he adds. “If it is neutral I think BTC trades back above $105k, where it was pre-DeepSeek.”
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Source: 9gag
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