Decision Time In The Dollar Could Impact Bitcoin Trend Dramatically
Bitcoin price is back trending upward after reclaiming $50,000 and the pivotal $1 trillion market cap level. With new all-time highs in sight, the only factor that could have a dramatic impact on the current crypto market trend, is a reversal in the dollar. This reversal has been brewing for some time, but has yet to come to fruition. It’s now decision time, and what happens in the dollar in the next 24 to 48 […]
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Yesterday's speech by ECB President Mario Draghi had no influence on the Bitcoin price. However, cryptocurrency traders still haven’t decided on an exchange trend direction, so the pair BTC/USD continues its sideways trend between the levels of $350 and $360. Shortly before the speech by ECB President, the US Dollar index (USDX) rose to the level of 100.58, which led the dollar on profit-taking and caused a rise on the Euro. Yesterday, Mario Draghi said that this period of abundance with regards to liquidity will be long. In addition, inflation forecasts for 2016 were revised to the....
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In the absence of important changes in the Bitcoin intra-day chart, here is an overview of a medium- and long-term strategy from which Bitcoin holders stand to benefit. As traders, we tend to focus on the next wave, and the direction of trend makes little difference if one is margin trading. However, the decision, whether to hold bitcoin or dollars in your trading account needs weighing. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Value and Price Analysis. Time of analysis: 13h40 UTC. Dollar Index vs Bitstamp 1-Day Chart. Excerpt from....