Bitcoin and USA unemployment climbs to weekly high

Bitcoin can climb to a weekly high

The latest climb in the market-leading cryptocurrency comes against the backdrop of bad news for the American economy, which “gained” 6.6 million new unemployed within a week. That number is more than twice the government’s original estimate.Although the situation for Bitcoin is currently significantly better, the analysts are not yet completely convinced of the new strength of the cryptocurrency.

 

Bitcoin the better money?

While the global economy is experiencing turbulent times, the debate about Bitcoin as a safe haven and store of value has rekindled, especially with regard to the cryptocurrency as an alternative to the currently battered fiat currencies.Accordingly, crypto advocates are taking advantage of the hour to highlight Bitcoin’s advantages over local currencies like the US dollar.” Bitcoin is a necessity because money is a necessity and fiat currencies have a mistake in thinking,” added the Twitter account @Bitcoin on Wednesday on this topic.As Cointelegraph reported today, TV presenter Max Keizer predicts that the corona crisis will trigger a run on gold. However, since the existing gold will not be enough for average investors to switch to the precious metal, investors will flee Bitcoin in droves, according to Keizer.