How the Dollar’s Fall from the Top Could Fuel the Future of Bitcoin
Bitcoin was built and designed to be directly opposed to the dollar in every way. In a sense, it is its destiny to trade against the dollar until it meets its untimely demise. That demise could very well be beginning thanks to the pandemic, and its fall from glory could also fuel a future where Bitcoin takes its throne. Here’s what that could look like from a technical analysis perspective. DXY Dollar Currency Index Short-Term […]
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Bitcoin’s short-term trend has grown somewhat unclear as of late, with the cryptocurrency being unable to extend its momentum past $13,800 This level has historical significance, as it is where BTC’s uptrend stalled back in the summer of 2019 when it rallied The sharp rise in the US Dollar’s value that took place yesterday may have been what sparked this movement Despite it now consolidating at just above $13,000 as bulls and bears reach an […]
Bitcoin is currently consolidating following its sharp decline seen yesterday The cryptocurrency is lacking momentum as its bulls and bears both seem to reach an impasse, which has struck a blow to its technical outlook One of the main reasons why BTC saw such a harsh rejection at $13,800 was due to a sudden surge in the US Dollar’s value seen yesterday This sent shockwaves throughout the market and stopped BTC from breaking the resistance […]
As many experts around the world agree that the dollar’s dominance won’t last forever the CEO of Coinbase, Brian Armstrong, believes bitcoin will “surpass” it as a global reserve currency “within 10-15 years.” As a former Wall Street banker and economics major in school, I have studied and accepted as fact that the U.S. Dollar’s days as the global reserve currency are numbered. It could be replaced 3 years from now, or 5 years, or 10 years from now. It will happen, in my opinion, the only question is when, not if, it does. I could be wrong, but don’t just take my word for it. Peter Schiff,....
Bitcoin today blasted through local resistance and set an all-time high price record. The powerful move came after a short-lived drop downward yesterday, providing enough short-sellers to pose as fuel to push prices higher. What also contributed to the “rocket fuel” was a sudden increase of stablecoins, which whales are finally taking full advantage of […]
Will Bitcoin end the dollar’s supremacy one day? Bitcoin (BTC) poses a significant threat to the world’s reserve currency, the United States dollar, according to a strategist at major American investment bank Morgan Stanley.Ruchir Sharma, chief global strategist at Morgan Stanley Investment Management, believes that the dollar’s reign is likely to end due to global distrust in traditional finance, while Bitcoin is likely to capitalize on that lack of confidence.In a Dec. 9 article in The Financial Times, Sharma provided a brief outline on the history of the world’s reserve currencies,....