Bitcoin Abruptly Surges as the Dollar Falls—is This Sustainable?
The price of Bitcoin (BTC) rose to $13,900 after declining to sub-$13,500 on the day. The catalyst behind BTC’s abrupt rally was likely the decline of the U.S. dollar, which fell after the election day. As the dollar slipped, Bitcoin, stocks, and treasuries rallied together. The Dow Jones spiked by 2.24%, surging by nearly 6% […]
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Polkadot’s DOT started a strong surge after it broke the $5.40 resistance against the US Dollar. It is up over 20% this week, and it even rallied above $7.00. DOT gained pace above the $5.40 and $6.00 levels to start a fresh increase against the US dollar. The price is now trading well above $7.00 […]
For all those who are casual market investors, rejoice! Bitcoin is back to its winning ways as the world’s leading free-market digital currency surges on Tuesday against a weakening US dollar due to recent commentary from President-elect Donald Trump. Trump: Dollar ‘Too Strong’. There are many potential factors in the value Bitcoin versus the dollar, the primary one being the value of the dollar itself, which is usually very stable and strong, being the global reserve currency. However, with Donald Trump ready to assume the position of the most powerful man on Earth in just three days, his....
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