Bitcoin is Approaching $20,000 Again Like in 2017 Thanks to the U.S. Dollar Inflation
The price of Bitcoin tops a new 2020 high at $19,420 yesterday. At the time of publication, Bitcoin’s price is departing away from its latest support level at $18,600 towards $19,000. Despite the investors expecting the bull run would be replicated like in 2017, those investors who bought Bitcoin at a historical high of $19,798 can’t be compensated unless the price hits above $21.24k. Because the U.S. dollar inflation caused the weakened purchasing power to account for the issue. Therefore, the bull run may not be ended by the price of $20,000 for Bitcoin.
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