Daily Bitcoin Price Analysis: Strengthening of the Dollar ends, is Bitcoin Growing Again?
During the Asian session, the Bitcoin price strengthened to $452. And this happens while we receive positive macroeconomic statistics from the US. Moreover, other currencies also grow against the Dollar. These facts suggest the activity of a large number of buyers, both in Bitcoin and other currencies, and that buyers are so optimistic that this overcomes the resistance of the Dollar. This suggests that in the short term, the Bitcoin price could resume growing. Today we expect the publication of the data on initial applications for unemployment benefits, but this shouldn’t affect the....
Related News
The exchange rates of Bitcoin vs. US. Dollar has been holding level between $440 - $460 a few days in a row. Positive macroeconomic indicators from the US and anincrease in interest rates to 0.50% led to a strengthening of the Dollar. However, Bitcoin’s price was unharmed. Today, the release of another piece of important economic data is also expected. The Dollar relative to other currencies will be further strengthened, while Bitcoin should continue its sideways trend to about $440 - $470 and begin to grow to the levels of $480 and $490. We can see an increase in the yield differential of....
As we expected, on Christmas Eve the Bitcoin price got in a narrow corridor of $449 - $455. Today is a holiday and there will be limited trading. Also no news that could affect the price of the Dollar is expected. Therefore, today December 25, we expect that the price of Bitcoin will remain in the corridor of $445 - $465. The resistance level is $465 and the support level is $440. As we can see, the latest positive macroeconomic statistics from the US gave the Dollar a support only for a limited time. Then again, the Dollar came under pressure and decreased against other currencies,....
China’s banks face insolvency risks with widespread mortgage boycotts. The U.S. dollar is strengthening and bringing bitcoin down in the process.
Throughout the last week Bitcoin’s price was in the corridor of $440 - $460. By the end of the week, it moved to $458. However, on the weekend Bitcoin dipped significantly to $433. The reason for such a change was the strengthening of the Dollar, which this time did affect the Bitcoin price. Last week, we were watching as the Dollar grew because of stronger statistics and interest rate rises. On Monday, December 21, no interesting macroeconomic data publishing is expected, neither in Europe nor in the United States. Today we expect a continuation of the bearish trend and trading at the....
Despite the positive reports from the United States, positive macroeconomic indicators seem not to be supporting the dollar enough. However, yesterday the pair BTC/USD was traded at a range of $320- $330. After consolidation within a descending triangle the BTC to USD price began to rise in the Asian session and reached a level of $332, where it met the resistance from Bitcoin sellers. Considering holidays in the United States today the main trades will be held during the European session, that should rule a roost for the BTC price today. Going above the $332 price level gives a bullish....