Bitcoin Dips on Stronger Dollar Sentiment; Boost Ahead After Fed Meeting?

Sentiment in the market is down as the Federal Reserve meeting on monetary policy looms.

Bitcoin prices jumped during the European trading session on Monday even though traders assessed the potential of its massive declines against a stronger US dollar. The flagship cryptocurrency topped at $31,935, up 5 percent ahead of the New York opening bell. Traders flocked back into the BTC/USD markets after the pair breached $30,000-support on Wednesday. […]

Analysts cautioned that a stronger dollar could play spoilsport to any new push higher.

The talks to allow digital currencies to exist in U.S. economy are underway. The suggestion is to achieve this by linking cryptocurrencies to the U.S. dollar. This contemplation took place on Tuesday at a meeting held by the U.S. Fed. At the meeting, a panel of speakers stated that the dollar status would gain more strength with crypto assets in the U.S. economy. Moreover, this will also give a boost to the digital currency industry. Strength Of Dollar Could Improve Through Cryptocurrencies The current state of cryptocurrencies is still posing some level of uneasiness in the mind of....

Bitcoin prices fell for the third consecutive session on Tuesday as a stronger US dollar countered the US Senate's approval of a long-pending coronavirus stimulus package.