Does a stronger dollar mean Bitcoin price is destined to lose $30K?
Bitcoin price may see a relief bounce first before retesting the $30,000 support. Bitcoin price has been accelerating massively in recent months, with Bitcoin (BTC) rallying from $10,000 to $41,500. This rally went vertical without any major corrections in between.However, every upward cycle has its standard 30% corrections, which can even be considered healthy for more upside. Bitcoin’s price started to fall south in the past days as it dropped 25% to $30,000. This dropdown was also influenced by the U.S. dollar’s sudden surge, which might be bottomed out in the short term. Bitcoin price....
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Individual investors, even when operating in a swarm, are destined to lose. How do I know? I helped design the game.
Bitcoin prices edged lower on Wednesday, pressured by a stronger US dollar, as markets awaited the US Federal Reserve's monetary policy outlook and progress around a stimulus deal.
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.
The sky is falling, the sky is falling! One look at this weeks Coinmarketcap is all it takes to get a sense for what the market is feeling at the moment, as total market cap drops to around 5.8 billion. The new threshold marking the lowest total marketcap has been since April of this year, as 12 of the top 20 cryptos lose ground amidst Bitcoins apparent free fall. So just what exactly is causing this current price drop? Has the news of Russia “banning” the technology finally hit home? Have investors grown impatient as the general populace remains weary on switching over? Has merchant....
Bitcoin bulls appear to be back, but a strengthening U.S. dollar, a new wave of COVID-19 infections and low trading volumes threaten the current recovery. The ongoing story for the past couple of months in the cryptocurrency market has been confusion on whether Bitcoin (BTC) is destined for another leg down or is finally ready to break out toward new highs.Bitcoin's price history and data from previous corrections suggest that the current struggles for the top cryptocurrency could persist for a little bit longer due to the strengthening dollar, the possibility of decreasing economic....