Bitcoin Garners New Users as Governments Flood World With Fiat
Thousands of new users are turning to bitcoin, according to Kraken and other exchanges, over fears that government stimulus will lead to inflation.
Sell-off in the U.S. dollar and ether's price rally power gains in bitcoin.
The bitcoin price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Fed meeting.
"Backing the dollar is the world's biggest, deepest and the most transparent government bond market," said Marc Chandler, chief market strategist at Bannockburn Global Forex and author of the book "Making Sense of the Dollar."
The noted analyst says a possible end to the U.S. dollar-ruled financial system is "frightening, yet the probability is quite high."
The dollar index dropped to its lowest level since May 2018.