Tag: dxy

Jan 12 2021

3 Reasons Why Bitcoin Price Crashed by More Than $11,000

Bitcoin suffered a major price crash during the weekend and on Monday after securing a milestone high of $41,986. The flagship cryptocurrency shed more than $11,000, or roughly 29 percent, in just three days of trading to hit a session low just shy of $30,000. Its plunge...

Dec 21 2020

Bitcoin Weekly Outlook: Expect Mild Corrections Ahead of Holiday Period

Dec 21 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt cryptocurrency dxy

At 22.49 percent higher, Bitcoin logged its best week since April 2019. The benchmark cryptocurrency ascended to its lifetime record level of $24,300, up 22. as traders assessed its growing prominence as an emerging safe-haven alternative among institutional investors. The...

Dec 04 2020

The Many Reasons Why The Dollar Could Soon Put A Damper On Bitcoin Bullishness

Dec 04 2020 Published at Bitcoinist.com under tags  bitcoin btc btcusdt btusd crypto

Bitcoin has just set a new all-time high, is trading just below $20,000, and is more bullish than its ever been as the digital narrative takes hold during the tail end of the pandemic. But as the top cryptocurrency is directly opposed to the dollar, it is especially sensitive to extreme movements in the global reserve currency. The flight to cash caused Black...

Oct 28 2020

How The Dollar (DXY) Is Responsible For Bitcoin Rejection Under $14,000

Oct 28 2020 Published at Bitcoinist.com under tags  bitcoin btc btcusd btcusdt btcusdtc

Bitcoin has been explosive for the past few weeks now, revisiting highs from 2019. But before the leading cryptocurrency by market cap could set a higher high and confirm a bull market, the dollar's recovery might have gotten in the way. According to the DXY Dollar Currency Index, the greenback has formed a rounding bottom and broken upward out from a falling wedge...

Oct 23 2020

Bitcoin Remains The Best Protection Against A “Devalued Dollar”

Oct 23 2020 Published at Bitcoinist.com under tags  altcoins bitcoin btc btcusd btcusdc

During a time when money has become more difficult to come by for many, and the fiat monetary system is on the brink of collapse, Bitcoin might be the best chance at protecting wealth. One CEO of a risk management firm that educates investors on how to protect capital, claims that the leading cryptocurrency by market cap "remains the best short-term macro correlation"...

Oct 14 2020

3 Biggest Bitcoin Takeaways from JPMorgan’s Q3 Earnings

JPMorgan is not a Bitcoin indicator. But the American banking giant's third- quarter earnings report is full of anecdotes that may influence the cryptocurrency's future outlook – in one way or another. Background The JPMorgan earnings showed an increase in profits by about 4 percent from a year ago. The WSJ...

Oct 12 2020

Analyst Sees Bitcoin at $12K after Price Rises Five Days in a Row

Bitcoin should surge to $12,000 by the end of this week, according to Josh Rager of Blockroots.com. The analyst raised his price target for the cryptocurrency after it logged a five-day winning streak ending Sunday. In that period, BTC/USD surged by more than 7.5 percent, hitting a weekly high at $11,498 as traders hoped for...

Bitcoin Weekly Outlook: Expect Downside Correction as Stimulus Enters Deadlock

A significant price rebound in the Bitcoin market last week is now at the risk of paring in the current one. The benchmark cryptocurrency has opened Monday in positive territory. As of 0516 UTC, it was trading for $11,405, up 16.27 percent from its recent bottom and down 8.62 percent from its year-to-date high....

Oct 09 2020

Dollar Index Fractal Suggests An Incredible Altcoin Season Is On The Horizon

Bitcoin and altcoins are directly opposed to fiat currencies, typically offering a hard-capped supply while the dollar and others can be printed with no limit. That constant printing throughout 2020 has left the greenback with its back against the wall, facing off against gold, crypto, and other nation's currencies to maintain its global reserve status. And while that title is likely to be...

Oct 08 2020

The Dollar Is Building Bullish Momentum As Bitcoin’s Wanes

Oct 08 2020 Published at Bitcoinist.com under tags  bitcoin btc btcusd btcusdc btcusdt

Bitcoin price just pumped following news that Square made a massive purchase in BTC, however, the dollar regaining momentum as the top cryptocurrency's wanes, could soon suggest a pullback and a better buying opportunity for the major payments corporation. Here's what inversely correlated technicals are saying about the two vehemently opposed currencies. Why The Dollar's Rebound Threaten's Bitcoin's Bull Run...

Oct 07 2020

Troubles for Bitcoin Grow as Analyst Spots “Potential Death Cross”

Bitcoin is on the verge of painting a Death Cross. The technical chart pattern–which forms after an asset's short-term moving average closes below its long-term moving average–holds credibility for predicting bearish markets. In the stock market crash of 2008, for instance, many investors credited Death Cross for...

Expect a Short-term Setback in Bitcoin Market, Asserts OKCoin Exchange

Bitcoin is bracing for a bearish impact in the short- to medium-term, according to OKCoin. The San Francisco-based cryptocurrency exchange cited data from IntoTheBlock, a blockchain intelligence platform, that painted Bitcoin's two out of seven on-chain fundamentals as...

Oct 06 2020

Bitcoin Analyst Sees “Accumulation Signals” as Price Eyes Breakout

The Bitcoin price expects to grow higher in the coming sessions as a historically accurate indicator flashes signs of substantial accumulation. Spotted by TradingShot, an independent market analysis portal, the "on-chain smart money indicator" shows that influential traders/investors are...

Oct 05 2020

Blow to Bitcoin as US Dollar Shows Signs of Further Strength This Week

Investors predicting sharp upsides in the Bitcoin market could meet a string of aversions from a bullish US dollar outlook. On Friday, the greenback inched higher–and the Bitcoin price slipped lower–after the news that Donald Trump and his wife Melania had tested positive for...

Oct 02 2020

What Trump’s Coronavirus Detection Could Mean for Bitcoin

Bitcoin was among the only safe-haven assets that didn't surge following the latest Donald Trump news. The benchmark cryptocurrency stared at losses over the previous 24 hours, falling 3.52 percent to $10,489 as of 0800 UTC. Its latest decline came after the US authorities filed criminal charges against the owners of BitMEX,...

Oct 01 2020

3 Reasons Why Bitcoin Price Could Fall in Q4/2020

2020 has been a rollercoaster year for Bitcoin. The lockdowns caused by the coronavirus pandemic earlier in the year pushed the crypto lower by almost 60 percent. Its crash shortly followed an equally aggressive rebound that took its price up by 220 percent. It is safe to say that Bitcoin is sitting in a...

Sep 30 2020

A “Flash Crash” Scenario Looms Over Bitcoin; Here’s Why

Bitcoin may undergo a significant price correction before the US presidential election due to its proximity to gold, hints Clem Chambers. The CEO of ADVFN – Europe's leading stocks and shares website,...

Sep 29 2020

US Dollar Will Crash “Faster and Harder,” Says Pro-Bitcoin Economist

Sep 29 2020 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt cryptocurrency dxy

A recent sharp pullback move in the US dollar market is insufficient to log a full-fledged upside breakout. So says Stephen Roach, the former chairman of Morgan Stanley Asia. The pro-Bitcoin economist wrote in an op-ed that the US dollar could fall by as much as 35 percent...

Bitcoin Decouples from Gold, Stocks after Overnight Sell-Off, What’s Next?

Bitcoin did its own thing during the late Monday trading session. The benchmark cryptocurrency plunged suddenly towards $10,600 after maintaining intraday gains above the $10,800-support all day. The sell-off appeared despite a healthier macroeconomic outlook led by signs of progress...

Sep 28 2020

Bitcoin Analyst Alerts of Looming ‘Bear Cross’ as Price Jumps Higher

Even as the bitcoin price jumps against favorable macro fundamentals, a chartist sees the cryptocurrency moving downwards in the coming sessions. The pseudonymous analyst pitched a highly bearish scenario for BTC/USD on Monday. He envisioned that the pair's 50-day moving average would close below its 100-day moving average, leading to...

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