Bitcoin’s stocks rose significantly on Tuesday as the European Union decided to approve a landmark coronavirus recovery fund.
The European leaders confirmed the long-awaited $750 billion post-pandemic fiscal stimulus plan during the Asian trading hours, boosting demand for equities and sending EUR/USD to a 4.5-month high of 1.1470.
Considering that the coronavirus vaccine can be ready by the end of the year, there is a chance that there could be a bullish run. Germany’s DAX index right now is at its highest level since February. Asian stocks also have gained over 2% early Tuesday.
Moreover, the rise of Gold, almost touching its all-time high since 2011, according to Wayne Chen, CEO of Interlapse Technologies, has made investors look at bitcoin as a store of value/haven.
Furthermore, Gold is right now just 4.6% short of the record high of $1,911 reached in September 2011.