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ValueWalk
Gold And Bitcoin Shoots Up As The Dollar SinksThe U.S. Dollar Index (DXY) value retreated after the U.S. jobless claim came in at 362,000 last week against 351,000 a week before. Since Bitcoin has an inverse correlation effect with the U.S. dollar, Bitcoin spiked up to 47,337.40 USD. The Federal Reserve also hinted at tapering its asset purchasing program which will keep interest rates low. Q2 2021 hedge fund letters, conferences and more Another factor that is encouraging an increase in Bitcoin is the fear that once the U.S. debt ceiling is lifted, the Federal Reserves printing press will con…
