Bitcoin vs. USD: why only a weaker dollar will push BTC above $20,000
Investors should keep an eye on the tight inverse correlation between the strength of the U.S. dollar and Bitcoin. A widespread debate among investors is the correlation of Bitcoin (BTC) with other markets. A high degree of correlation between the equity markets and Bitcoin has existed, particularly in the last few months. In other periods, gold and Bitcoin appear to move in tandem.However, the correlation that should be watched the most is the dollar since the global economy is based on the strength or weakness of our world reserve currency, the United States dollar.Weaker USD drove up....
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Bitcoin price action is back in the low $30,000 range, after another failed attempt to reach $40,000 over the Father’s Day weekend. The effort from bulls is getting weaker and weaker, even now resulting in a “death cross” on daily timeframes. But could they be simply feigning weakness, ready to squeeze short traders and push […]
Citi analyst Calvin Tse discussed the prospects of a weaker US dollar in his research note.
Bitcoin price is due for yet another breakout, and the technical indicators suggest that the path of least resistance is to the downside. The US dollar lost ground to most of its peers, including bitcoin, in recent trading sessions when economic data came in mostly weaker than expected and a Fed official admitted that inflation might stay low for much longer. The core PCE price index showed a flat reading instead of the estimated 0.1% uptick, confirming that price pressures are subdued. Also, personal spending was flat in December even as personal income rose 0.3%, hinting that consumers....
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....