Bitcoin Rallies: Safe-Haven Asset Amid Shutdown
News Context
At a glance
- As of Friday,Bitcoin was trading around $123,874,just 1% below its all-time high of approximately $124,000 (reached in mid-August).
- investors are turning to Bitcoin as a decentralized asset due to the ongoing political uncertainty caused by the government shutdown.
- Standard Chartered expects Bitcoin to hit a new high soon, potentially reaching $135,000.They believe this year's market is more sensitive to "US government risks" then in the past...
Here’s a summary of the article:
Bitcoin is rallying, nearing its record high. As of Friday,Bitcoin was trading around $123,874,just 1% below its all-time high of approximately $124,000 (reached in mid-August). It has surged 12% this week.
The U.S.government shutdown is a key factor. investors are turning to Bitcoin as a decentralized asset due to the ongoing political uncertainty caused by the government shutdown.
Analysts predict further gains. Standard Chartered expects Bitcoin to hit a new high soon, potentially reaching $135,000.They believe this year’s market is more sensitive to “US government risks” then in the past (specifically referencing the 2018-2019 shutdown).