Bitcoin jumps above 20 thousand dollars as the US currency ‎declines

Cryptocurrency Bitcoin crossed the $20,000 mark and is looking to post its best day in six weeks on Friday, as the dollar fell and markets found reasons for optimism at the end of a tough week.

According to “Reuters”, Bitcoin, the largest cryptocurrency by market value, rose more than seven percent to reach $20,796, its highest level in two weeks.

Ether, the second largest cryptocurrency, also rose five percent, also hitting a two-week high of $1,717. Bitcoin was down on Wednesday to $18,540.

Market participants said there was no particular driver behind the gains other than Friday’s apparent optimism, driven by a drop in the safe-haven dollar, and a rebound in Chinese stocks.

Ether’s volatility could increase in the next couple of days due to a planned software update known as a “merger”, scheduled in September 10-20.