The US dollar index fell sharply today, continuing a 10-month streak of losses that was the lowest point since April 2018.

International news agency Reuters topped the event: “The dollar is falling on US stimulus hopes; Bitcoin is at its peak ever. The article indicated that the dryer coincided with today’s news of another coronavirus relief bill being discussed in Congress, and the start of talks between US Treasury Secretary Steve Mnuchin. House Speaker Nancy Pelosi The article places the declining dollar against the bitcoin price hike, which quickly breached record levels for the second day in a row on Tuesday.

“Looks like the title for 2024,” said Eric Voorhees, ShapeShift CEO and longtime Bitcoin spokesperson, in a tweet about the Reuters headline, but I think we’re assuming it’s not going to be a headline, but a lot around the world. In the coming years. ”

Some bitcoins compare the Reuters headline to the famous headline from The Times included in the bitcoin generation block: “The advisor is about to help banks again,” noting the significance of the changes that happen from time to time.

Historically, Reuters was not known for its positive bitcoin coverage, but that could change. Last week, the news agency published an article examining the possibility of reaching a target price of $ 100,000 for bitcoin by the end of 2021, and a week before that there was an article about how this year’s bubble differs from 2017.

The US dollar index is a measure of the value of the US dollar against a basket of other currencies: the euro, the Japanese yen, the British pound, the Canadian dollar, the Swedish krona and the Swiss franc.

Compared to the relative value of 100 in 1973, the index reached a permanent high of 151 in October 1984 and a low of 71.8 in April 2008. It is currently at 91.1, the lowest level seen more than twice. A year and a half.

The US dollar has also declined against a number of other currencies and heavily traded assets over the years, including many commodities and stocks. The inflationary decline in the dollar’s value this year has been accelerated by an attempt by the US government to provide relief from COVID-19 in the form of economic stimulus, which experts say is helping push the price of BTC to perpetual high levels.

Source: CoinTelegraph

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