Summary
- SwissBlock said the U.S. government shutdown has limited impact on the Bitcoin (BTC) price.
- It said there was no direct correlation with Bitcoin even during the historically longest shutdown period.
- It explained that during past shutdowns Bitcoin only fell about 6% and the impact was limited.
On the 1st (local time), virtual asset (cryptocurrency) specialist media SwissBlock analyzed that the U.S. government shutdown (temporary suspension of operations) does not have a large impact on the price of Bitcoin (BTC).
SwissBlock explained, "The historically longest shutdown (December 2018~January 2019, 35 days) occurred after Bitcoin had already fallen 50%, and there was no direct correlation."
It added, "During that shutdown period, Bitcoin traded in the 3575~3800 dollar range and fell by about 6%," adding, "the shutdown's impact on Bitcoin's price is limited."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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