Bitcoin Bulls Rejoice? Analyst Sees Weakening US Dollar As Major Catalyst

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 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....

Buyer support and macro headwinds are in Bitcoin's favor as a giant sell wall is all that stops BTC/USD from reclaiming $50,000. Bitcoin (BTC) challenged $46,800 on Aug. 11 as a weakening U.S. dollar added to bullish momentum.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Aiming for $50,000"?Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $46,787 on Bitstamp Wednesday, a hair short of the previous day's peak.Fresh from voting day on the U.S. infrastructure bill, something which ultimately failed to move the market, Bitcoin showed no signs of....

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....

Ethereum price after weakening started trading in a range. It looks like it is facing a tough resistance on the upside, which is stalling gains. Key Highlights. Ethereum price after a decline against the US Dollar started a consolidation below a major resistance area. There is a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which can be seen as a major barrier for an upside move. The price is below the 100 hourly simple moving average, which is also acting as a resistance zone. Ethereum Price Resistance. Ethereum price ETH after moving a few points below....