The World of Cryptocurrency - US Government Shutdown

There is a news yesterday that creates an intense buzz in the cryptoworld whether it will be affected by the event that was taking place in the US right now. Speculations and opinions were sprouting like mushrooms on the web and many of our fellow cryptonians were worried on its effect in the cryptoworld - Bitcoin has not yet recovered from its recent drop and now this US situation will add bitcoins' injury for the past few weeks.

Article link

The United States government has chosen to shut down due to a failed Senate bill and we could see that it has an effect on the cryptocurrency market. But contrary to some speculations, the crypto market rise up right after the government's shutdown was announced at midnight Eastern Standard Time. We can see that obviously, people are hedging their positions against the US dollar with this government shutdown news which causes a large strain on the United States economy and its dollar as a whole in which Bitcoin is measured against. It makes sense that people are buying the virtual coin and this is a very good sign for the cryptocurrency market because it shows people were starting to believe in it and it's been proving to hold a value in times of uncertainty. But still, it is too early to conclude that crypto got its rise due to the US government shutdown. Only time will tell what the future will be for us - the cryptonians.