Could Bitcoin Reclaim $40,000? The US Dollar Index Has An Answer
Bitcoin logged its worst plunge since March in the previous three sessions, stoking concerns among traders that its overheated price rally is beginning to lose steam. The flagship cryptocurrency plunged 5.18 percent during the weekend and extended its correction by an additional 7.29 percent to $35,388 by 0916 GMT on Monday. At its intraday low, […]
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In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since then, the index has pulled pack and a recent analysis from economists at Société Générale notes that the index will likely rally back toward the 114.8 high.
Greenback Index Starts Climbing Again After the Recent Pullback, Société Générale Economists See a ‘Prevalence of Upward Momentum’
The U.S. dollar, otherwise known as....
Bitcoin price is down $800 in just over 24 hours, and elsewhere in the finance space, there is pure carnage. Gold fell below $1900, and stocks are downward spiraling. And behind it all is the dollar. But why is the Dollar Currency Index (DXY) potentially responsible for the market-wide collapse and what exactly is driving […]
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....
Janet Yellen the Chair of the US Federal Reserve, is expected to announce the lift-off of interest rates from historic lows in its December 15 meeting. A better-than-expected jobs report also raised confidence that the US economy is primed for higher interest rates. But, how does that concern the Bitcoin ecosystem? To understand this in a simple way, let us see how Bitcoin has performed against the US dollar in the past two years. Below is the weekly U. S. Dollar Index chart compared with the BTC-USD pair in the lower section. Image. June 2014 - Feb 2015: Inverse Relation Confirmed. From....
The U.S. dollar currency index breaks through resistance to hit its highest level since 2002 — to the detriment of practically everything. Bitcoin (BTC) made a fresh bid to crack $40,000 on April 28 as Wall Street trading opened to twenty-year highs for U.S. dollar strength.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDXY now in "parabolic rally"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting a high of $39,883 on Bitstamp before momentum waned, sending the pair $800 lower hours later.Traders had predicted what they saw as a relief bounce, with the....