Great protests and riots in the US. Is that pushing BTC prices up?
1 min readThe riots in USA are on the rise. And so is the price of the BTC. The cryptocurrency king literally broke through the $ 7,000 yesterday level. The price of the cryptocurrency went up to over $ 7200.
Increasing civil unrest and problems with the US economy mean that speculators are driving the price of cryptocurrency up.
Riots in USA: BTC price fired
The price of the cryptocurrency rose late in the evening due to widespread demonstration and riots over a declining economy. The people of the oldest democracy in the world do not feel great with interferences the rights of Americans.
There are protests all over the country. In Michigan, Minnesota, South Carolina, Kentucky, Ohio, Utah, Virginia and Florida. Their intensity is constantly increasing. Further demonstrations are planned in Washington, New York and many other states.
Bitcoin and instability
Bitcoin generally has a very good growth history in the event of geopolitical instability. It grew during the crisis around Venezuela and fired during problems in the Middle East.
Even during the coronavirus crisis, he is doing particularly well. It acts as an excellent safe haven in the event of political unrest.
On the other hand, it reacts negatively to major economic crises. This was seen, for example, in the early days of coronavirus when life on the planet was thought to stop. As Asia began to move, Bitcoin also began.
You could be interested in: Reasons to invest in Bitcoin in the midst of the Coronavirus crisis
