Bitcoin and gold surge after US elections, but $378 million short squeeze casts doubt on debasement trade
By Gino Matos
Bitcoin's rally above $81,000 alongside gold has revived speculation that investors are seeking protection against the weakening US dollar. The largest cryptocurrency rebounded from about $75,600 on Nov. 4, while gold futures surged 3.4% to $4,061.10, their biggest daily gain in three months. The dollar also weakened…
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Bitcoin
The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.
Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.
More about BitcoinCryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
More about CryptocurrencyMore in Finance
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