The Magazine for Asian Investors
Bitcoin prices have risen back above the psychologically significant $20,000 mark this afternoon as the dollar’s depreciation has increased buying of risky assets, including cryptocurrencies.
Bitcoin price increased by $1,951.57 or +10.16% to $21,112.93.
The dollar index fell this afternoon, which favored the purchase of risky assets. The Bloomberg Dollar Spot Index fell 0.7% in Asian markets after reaching a record high this week.
In addition, today’s rally in Asian stock markets supported the bitcoin price. The Hang Seng Index in Hong Kong rose by 2.5% in the morning, while the Nikkei closed with a gain of more than 100 points.