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October 4, 2022
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Bitcoin

Reuters published the headline We’ve Been Waiting For! |

The US dollar index fell sharply today, extending the 10-month loss streak. It is currently at its lowest level since April 2018.

The dollar falls and Bitcoin achieves ATH

Reuters, the international news agency, highlighted the incident with the headline “Dollar plummets on U.S.” in its article. stimulus hopes; Bitcoin hits all-time peak ”. The text noted that the decline coincided with today’s news of the second COVID stimulus package being discussed in Congress, and the resumption of negotiations between US Treasury Secretary Steve Mnuchin and House of Representatives President Nancy Pelosi. The article presents the contrast between the falling dollar and the rising one BTCwhich recently hit a record high.

“It looks like a 2024 headline … but I suppose it won’t be one headline, but many in the coming years.”

– wrote Erik Voorhees, ShapeShift president and longtime supporter Bitcoin.

Some community members have compared the Reuters headline with the famous The Times headline that was embedded in the first BTC block.

Historically, Reuters is not known to be positive about Bitcoin, but that could change. Last week, the agency published article examining the probability that Bitcoin will reach a price of 100,000. dollars by the end of 2021. A week earlier, there was a text about how up-to-date “bubble”Differs from the one from 2017.

US dollar index

The US dollar index is a measure of the value of the US dollar against other currencies: the euro, the Japanese yen, the pound sterling, the Canadian dollar, the Swedish krona and the Swiss franc. Starting at a relative value of 100 in 1973, the index reached ATH 151 in October 1984 and a low of 71.8 in April 2008. Currently, this index is 91.1, which is the lowest level in over two and a half years.

The USD has also declined compared to many other currencies and assets such as commodities and stocks. The devaluation of the dollar has been accelerated this year by the US government, which is printing huge amounts of dollars. According to experts, this sequence of things helped bring the BTC price to the current highs.

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