The three major indices of the U.S. New York Stock Exchange dropped by more than 2%, causing Bitcoin to emerge as a safe haven. It surpassed $88,000, marking its highest value this month.
As of 8 a.m. on the 22nd, Bitcoin is recorded at $87,115, up 2.46% from the previous day, according to global coin market tracking site CoinMarketCap.
Earlier, Bitcoin surged to $88,460, recording its highest value this month.
Ethereum, the second largest by market capitalization, is trading at $1,574, down 0.66%.
Ripple, the fourth largest by market capitalization, is recorded at $2.07, up 0.02%. On this day, Ripple is trading between a high of $2.14 and a low of $2.06.
On this day, the U.S. stock market dropped more than 2% across the three major indices as President Trump attacked Federal Reserve Chairman Powell.