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And that makes it an attractive asset to add to a portfolio, Bechtel said. That's pretty bullish for the long-term bitcoin outlook, even as some, notably Bank of America, have called the crypto rally " the mother of all bubbles. But don't turn all your hard-earned dollars into bitcoin just yet.

The US dollar is the world's reserve currency, meaning that companies, countries and central banks are keeping it in their accounts. It's also the currency most used in transactions around the globe. Sure, the euro and China's yuan have become more popular in recent years and cryptocurrencies have arrived on the scene.

But for now, there's nothing to knock the dollar's status. But "that kind of price action is the exact opposite" of what reserve investors are looking for," Marc Chandler, chief market strategist at Bannockburn Global Forex, told CNN Business. Reserve investors such as central banks aren't looking for the biggest return. They look instead for value-preserving investments. And while bitcoin's volatility might diminish as the cryptocurrency market matures, it hasn't so far.

Another reason bitcoin isn't about to become the world's reserve currency is that it's not really a currency, wrote Chandler on his blog. Weaker dollar under Biden. The US dollar's reserve status might not be at risk just yet, but there's a strong chance the it will continue to weaken in the near term. President Donald Trump repeatedly expressed his desire for a weaker dollar when he was in office, but global trade tensions and geopolitical wobbles boosted its safe haven status and made the dollar appealing for investors.

Conditions look a bit different for President Joe Biden and the greenback could weaken as a result of the new administration's economic agenda, including more government stimulus. Interest rates now are ultra low and the Federal Reserve has signaled that they will stay there until the recovery is well under way. That makes America's currency less appealing for investors. US Treasury yields, which follow interest rate expectations, have ticked up recently amid hopes for a faster economic recovery.

Intraday rates start at The detailed prices are calculated in that interval. About Bitcoin Is it Money? Bitcoin is an electronical money unit that it never can be print or visually visible. It is a digital currency money that you can buy and sell in Bitcoin Market.

Bitcoin is a money unit but it is not printed, like the other moneys as dollar , euro or pound. Bitcoin is used electronically and no one take the control of it. In short, bitcoin is a digital currency. You can monitor realtime bitcoin prices at live bitcoin price. It is a payment system based on digital currency. Bitcoin Mechanism : Bitcoin works behind a new technology based on digital money.

It works as a mobile app that you can send and receive data. It is a digital wallet that you may pay with your bitcoins when you get a service.