Bitcoin Latest Price: Bitcoin surges over $90,000 for the first time since March 7; This is what drives the surge
Bitcoin exceeds the stock market
The largest cryptocurrency has appreciated over 5% over the last five days, which is a complete turnaround based on Coindesk’s traditional stock down trajectory. According to Coindesk, although the 5,700-point drop to about 5,200 points in early March, the recent surge in Bitcoin shows an increase in the difference between digital currencies and traditional stock markets.
Bitcoin’s “Turning Point”
According to Investx, the uptrend of Bitcoin is due to US dollar suspicion and rising economic uncertainty. Cryptovision analyzed that “Bitcoin and gold have been telling the same story for years,” quoting Investx, highlighting the recent gold and Bitcoin breakthroughs that have been ever seen. “Gold marks its 55th peak of the year, and Bitcoin is joining the party,” Cryptovision mentioned, stressing that the two assets have increased the dollar’s distrust and increased economic uncertainty.
According to the report, the dollar index, which measures currencies by six major currencies since January, has fallen 10% as trade tensions began with tariffs by U.S. President Donald Trump. “DXY is at its lowest level since March 2022, which could drive Bitcoin to sell for $90,000,” Investx wrote.
“Nasdaq stocks fell, the dollar weakened, new highs of gold and Bitcoin rose: we are at a turning point,” Investx quoted.
FAQ
Why has Bitcoin risen recently?
According to reports, Bitcoin has surged due to suspicion of the dollar and increased economic uncertainty.How does Bitcoin perform compared to stocks?
According to a report by Coindesk, Bitcoin is different from traditional stocks in recent weeks.
