Bitcoin posted its biggest gain since August 26, surpassing the $20,000 mark
Bitcoin surged 6% today for its biggest gain in a month, rallying alongside Asian shares amid a weaker US dollar and clearing the psychologically important $20,000 mark.
According to Bloomberg, the world’s largest cryptocurrency by capitalization rose to $20,520, outpacing other popular tokens, including Ethereum. Asian shares were also positive as investors’ risk appetite returned, with the Hang Seng, Hong Kong’s main stock index, rising about 2.5%.
The Bloomberg dollar spot index, which tracks the dollar against a basket of developed emerging market currencies, fell 0.7% in Asian trade after hitting a record high this week.
Bloomberg noted that in September, bitcoin was stuck in its narrowest trading range in nearly two years. According to analysts of the resource, this is partly related to the uncertainty of the plans of central banks to raise interest rates in the fight against inflation against the backdrop of the global economic slowdown.
