The value of Bitcoin reached nearly $16,000 on the back of uncertainty around the US election. The election teetered on the edge at the time of the publication on Friday, November 6. On Saturday, major US networks called it in favour of Joe Biden.
16K is the coin’s key milestone since the crypto bubble of 2017-2018. BTC is now just 4K short of the all-time high of $20,000 registered in December 2017.
Market players have dubbed Bitcoin ‘digital gold’, a safe asset in the times of global economic unrest. ‘Gold has always been synonymous with security,’ Alexey Kirienko told The Telegraph. ‘Now, we know that Bitcoin has also proved to be an invaluable instrument when hedging systematic risks.’
This article is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here.