Dollar Weakening Could Propel Bitcoin to $300
The US Dollar, which has been in a massive uptrend since July 2014, has been sliding in recent days after last week’s Federal Reserve meeting. It is now being assumed by market pundits that the Federal Reserve will hike interest rates later than expected. This has led to a correction within a major uptrend in the USD and has given life to Euro, gold, oil, and most other commodities. Bitcoin, which has been lagging these other asset classes, may be able to follow if the dollar’s weakening continues. Of course, some more good news would also help to counterbalance the recent slew of bad....
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A weakened US Dollar is also positive for the bitcoin ecosystem, in a way. Looking ahead in the financial world is becoming quite challenging these days. Stock investors are currently concerned over the US Dollar, albeit that situation may come to change soon. After a horrible start in 20017 for the greenback, the question remains what will happen next. Further declines in value are not out of the question, which spells good news for investors. Additionally, a weaker US Dollar can benefit the bitcoin ecosystem as well. It has to be said, the bullish US Dollar trend could only be sustained....
For all those who are casual market investors, rejoice! Bitcoin is back to its winning ways as the world’s leading free-market digital currency surges on Tuesday against a weakening US dollar due to recent commentary from President-elect Donald Trump. Trump: Dollar ‘Too Strong’. There are many potential factors in the value Bitcoin versus the dollar, the primary one being the value of the dollar itself, which is usually very stable and strong, being the global reserve currency. However, with Donald Trump ready to assume the position of the most powerful man on Earth in just three days, his....
The masses cheered as Tesla CEO Elon Musk added the Bitcoin hashtag to his Twitter bio, and later revealed his company would accept BTC for purchases. Since then, however, the moon man himself has done enormous damage to the crypto bull market structure, and to investor’s bottom lines. Worst of all, Musk is weakening the […]
Though it is not clear the extent to which the weakening South African currency rand will go compared to what is happening in Venezuela, Bitcoin price in the country rose by almost 5% this week. The sharp rise which happened in less than a day was a reaction to a National Prosecuting Authority (NPA) decision to charge Finance Minister Pravin Gordhan. The announcement caused the rand, which was 3.43% lower at R14.27 to the dollar by late afternoon on Monday October 10 and 1 BTC = R8, 891 on BitX exchange by midnight, to rise to be 1 BTC = R9, 298 by 14:00 on Tuesday. The price has changed....
Bitcoin rallies above $51,000 as the dollar stagnates, showing signs of a short-term top. The U.S. dollar index (DXY) is showing signs of a short-term top as the price of Bitcoin (BTC) demonstrates signals of a short-term rally.There is a narrative that the price of Bitcoin often coincides with a drop in the value of the dollar.Since stores of value, like gold and Bitcoin are priced against the dollar, theoretically, a downtrend in the DXY would likely have a positive impact on the price of BTC.Bitcoin retakes $50,000 againAs the dollar began to consolidate, Bitcoin broke above $50,000 on....