Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Bitcoin (BTC)
  • Diving USD Prompts BTC to Surpass ATH Briefly
  • Bitcoin (BTC)
  • Crypto News

Diving USD Prompts BTC to Surpass ATH Briefly

Blaine Matta December 4, 2020 3 min read
Diving USD Prompts BTC to Surpass ATH Briefly

Known as the stable currency of the world, things haven’t been looking up for the US dollar of late. It has been experiencing sharp drops and has just extended the losing streak it has been on in the previous 10 months. Considering the current values, it has reached two-and-a-half-year lows, as it had last been trading like this in April 2018. A well-known international agency, Reuters published a rather historical headline relating to this matter. The headline referred to the dip in the US dollar and the rise in Bitcoin, as the cryptocurrency hit an all-time high. The drop in the greenback was primarily because of the US Congress resuming talks about a new financial aid package. 

The US Treasury Secretary, Steve Mnuchin and House of Representatives Speaker, Nancy Pelosi, have once again begun negotiations for introducing economic stimulus. While the USD seems to be declining with each passing day, Bitcoin is experiencing some bullish price action. Indeed, the pioneer cryptocurrency has managed to go past its all-time high, even if it was for a brief period of time, and that too for the second day straight. This all took place on Tuesday. The chief executive at ShapeShift, Erik Voorhees has been Bitcoin’s advocate for a long time.

The CEO said that the headline appeared to be something you would expect to see in 2024 and not today. Even so, he did reiterate that it was just one of the numerous similar headlines that were going to be seen in the next few years. As a matter of fact, a number of notable names in the Bitcoin market directly compared the headline by Reuters with the famous headline from the Times that was incorporated in the Genesis Block of the Bitcoin Network. They highlighted the huge changes that have taken place since then.

The USD index is used as a measure of the currency’s value against a basket of other major currencies, which include the Canadian dollar, the Japanese Yen, the Swedish Krona, the Swiss Franc, and the Pound Sterling. Back in 1973, the relative value of the index had started at 100. In October 1984, the dollar index began to reach its all-time high, which was a value of 151. As far as the all-time low is concerned, it happened in April of 2008 when markets crashed and the value slipped to 71.8. In today’s markets, the dollar index has reached 91.1, which is a low that hasn’t been seen by the country in the last two and a half years. 

As compared to other currencies, there has been a dip in the USD, along with heavily-traded assets. This includes a big number of commodities and stocks. The devaluation of the reserve currency induced by inflation only increased this year when the US government introduced a financial aid package for providing relief to the economy that was hit by COVID-19. This drove the USD down but worked in favor of Bitcoin, which has only been going up in the last few months. m

Post Views: 585

Continue Reading

Previous: Binance US Is Now Supporting XRP Flare Networks’ Spark Airdrop
Next: Donnie Finance Partners With IOST

Related Stories

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 2022
Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC
2 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto News

Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

August 4, 2022
Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,056.00
-0.60%
ethereum
Ethereum (ETH)
$1,903.56
0.53%
tether
Tether (USDT)
$1.00
-0.30%
usd-coin
USD Coin (USDC)
$1.00
0.10%
binancecoin
BNB (BNB)
$322.98
-0.80%
ripple
XRP (XRP)
$0.373985
-1.42%
cardano
Cardano (ADA)
$0.53
-0.53%
polkadot
Polkadot (DOT)
$9.37
1.06%
dogecoin
Dogecoin (DOGE)
$0.071534
0.30%
Uniswap
Uniswap (UNI)
$9.04
-0.98%

Recent Posts

  • Alfabtc Review – A Recommended Cryptocurrency Broker

    Alfabtc Review – A Recommended Cryptocurrency Broker

     Alfabtc Review Alfabtc is a competent brokerage firm known for its fast and efficient execution of trade. The
  • Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    On Thursday, Hotbit made a concerning announcement for the entire customer base. The cryptocurrency exchange notified the users
  • Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain has been selling Bitcoin (BTC) that belongs to the blockchain’s holdings. The reason behind selling Bitcoin
  • Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Hodlnaut has announced that it has frozen its services for the users. The firm made an official announcement
  • Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Lido DAO (LDO) has proven to be one of the top performers in the cryptocurrency industry in the

Start Trading

Categories

Top Posts

  • Price Analysis of BANCC (sBanc) and Orbit Token (ORBIT)

    Price Analysis of BANCC (sBanc) and Orbit Token (ORBIT)

    BANCC and Orbit Token have recorded very high gains in the past 24-hours, and they are both running
  • IBC Exchange Review – Is IBC Exchange Scam or Legit?

    IBC Exchange Review – Is IBC Exchange Scam or Legit?

    IBC Exchange Review If you are here then it means that you are planning to become part of
  • 2% Levy could be Imposed on Cryptocurrencies Bought through Exchanges Operating in Abroad

    2% Levy could be Imposed on Cryptocurrencies Bought through Exchanges Operating in Abroad

    It has been a couple of years since the cryptocurrency community and the regulatory authorities are having a
  • Hawaii Softens Restrictions on Regulatory Sandbox to Allow Entry of Crypto Companies

    Hawaii Softens Restrictions on Regulatory Sandbox to Allow Entry of Crypto Companies

    The state’s Digital Currency Innovation Lab has opened its doors to allow more crypto companies to register till
  • BTC, XRP, ETH, ZEN, DIA, Technical Analysis – 13 July

    BTC, XRP, ETH, ZEN, DIA, Technical Analysis – 13 July

    Briefly – Bitcoin trades in the $31,300 to $40,550 range. XRP, ZEN, and DIA broke out of the

Archives

You may have missed

Alfabtc Review – A Recommended Cryptocurrency Broker
3 min read
  • Brokers
  • Reviews

Alfabtc Review – A Recommended Cryptocurrency Broker

August 10, 2022
Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 2022
Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC
2 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto News

Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

August 4, 2022
Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
  • Alfabtc
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$24,056.00-0.60%
  • ethereumEthereum(ETH)$1,903.560.53%
  • tetherTether(USDT)$1.00-0.30%
  • usd-coinUSD Coin(USDC)$1.000.10%
  • binancecoinBNB(BNB)$322.98-0.80%
  • rippleXRP(XRP)$0.373985-1.42%
  • cardanoCardano(ADA)$0.53-0.53%
  • SolanaSolana(SOL)$43.17-0.39%
  • polkadotPolkadot(DOT)$9.371.06%
  • dogecoinDogecoin(DOGE)$0.0715340.30%
  • UniswapUniswap(UNI)$9.04-0.98%
  • bitcoin-cashBitcoin Cash(BCH)$140.90-2.27%