Bitcoin is at $20,200 on Tuesday, Have been steady during after the recent crash of fiat currencies against the U.S. dollar. Over the past ...
Bitcoin is at $20,200 on Tuesday, Have been steady during after the recent crash of fiat currencies against the U.S. dollar.
Over the past two days, there has been a lot of development in the global crypto arena. The top cryptocurrency BTC hits $20,350 with 5.5 % high, Ether, the second largest cryptocurrency, at 4% high to $1,390.
Bitcoin is trading between $18,500 to $20,300 from past few days even when major fiat currencies like the British Pound, Japanese yen and Chinese yuan dropped sharply against the U.S. dollar.
The pound, in particular, fell to an all-time low of $1.030 on Monday as the government plan to implement the biggest tax cuts in past 50 years. The Chinese yuan fell to 7.1 per dollar, the lowest since May 2020, It also trigger fears of in global commodities.
The Dow dropped around 300 points on Monday. Bitcoin has the history moving up or down in lockstep with stocks. So, the cryptocurrency's latest resilience has raised hopes of its eventual evolution as a safe haven asset.
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