Despite the reopening of the US government, Bitcoin price is pinned at a staggering $104.7k today, offering little in the way of relief for investors. The price holds steady and doesn’t demonstrate the direct correlation one might expect.
Market Response
With the economic volatility and uncertainty surrounding the governmental reopening, investors had hoped for a positive effect on Bitcoin’s value. However, the digital currency remains impressively defiant to the changes, standing at $104.7k.
The Fickle Fiat
This scenario emphasizes the independence of designated currencies from traditional economic structures. Bitcoin, being decentralized, tends not to follow the standard market dynamics exhibited by fiat currencies, rendering our usual patterns of analysis ineffective in predicting its trajectory. Read More
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