While stocks are showing considerable volatility as the U.S. and China begin rattling their trade sabers again, cryptocurrencies are getting a second life with investors.
The Dow Jones Industrial Average has oscillated up and down for the past five days, ultimately losing roughly 1,000 points. On Monday, as China announced plans to raise tariffs on $60 billion worth of U.S. goods, the Dow was down a whopping 562 points, as of 10:55am ET.
Bitcoin, though, is up more than 7% today—and has increased more than 30% in the past week, jumping from $5,711 to $7,516, according to CoinDesk. All other major cryptocurrencies are showing gains Monday, as well.
Bitcoin, in particular, is on something of a run lately. The crypto has seen prices rising steadily most of the year, crossing psychological thresholds of $4,000, $5,000, $6,000 and $7,000 since Jan. 1.