Bitcoin Price Jumped to $8,000
Today, bitcoin price has jumped to $8,000, the highest level since August last year. The cryptocurrency market has once again raised the notion that digital assets act as safe-haven assets during periods of turmoil.
The growing US power has caused fears of other US trading partners, especially the European Union, Japan and South Korea, and has also put the global multilateral trading system at risk. The Sino-US trade negotiations have been relatively tense, and global risk aversion has been heating up.
According to data from BCtrend, the price of Bitcoin jumped to $8,000 today, the highest level since August last year.
Bitcoin has performed strongly and has been rising all the way. This has revived a claim in the cryptocurrency market that digital assets act as safe-haven assets during periods of turmoil. The stock market is currently falling due to increased trade tension between the US and China. This is related to the essential nature of the Bitcoin economy.
Bitcoin has soared more than 90% since the beginning of 2019, but the current price is still below the all-time high set at the end of 2017, when bitcoin price climbed above $19,000.
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