Tag: us dollar index

Apr 09 2021

Bitcoin Eyes Long-Term Benefits on Central Banks’ Dollar Ditch

If global central banks are any indicator, the bitcoin price can continue its supersonic bull run despite hitting a pause in the past three weeks. At the core of the bullish theory is the US dollar. True, the global store of value has attempted impressively to emerge out of its 2020 bearish trend, the one that...

Apr 08 2021

Boom for Bitcoin as Macro Analysts Stick to Their Bearish Dollar Calls

Bitcoin and the US dollar have stopped caring about their inverse correlation heading into 2021. The flagship cryptocurrency closed the first quarter more than 100 percent higher as more and more institutions became accustomed to its safe-haven characteristics. For instance, US carmaker Tesla...

Mar 23 2021

Bitcoin Price Eyes More Explosions as Biden Considers New $3tn Package

Mar 23 2021 Published at Bitcoinist.com under tags  bitcoin btcusd btcusdt cryptocurrency dxy

Bitcoin investors keen to profit from Joe Biden's presidency have received another bullish update from the oval office: a $3 trillion government spending package. According to two sources in the White House, Mr. Biden is considering a plan from his top advisors to boost infrastructure, clean energy, childcare, and...

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...

Nov 30 2020

Bitcoin Weekly Outlook: A $20K Retest Likely as Dollar Hits 2018 Low

A remarkable rebound this weekend has put Bitcoin back en route to $20,000, its record high to date. The flagship cryptocurrency still closed the week in red, down 1.28 percent on the whole. Many factors contributed to its decline, primarily profit-taking as its price logged a three-year high at...

Oct 15 2020

More Pain for Bitcoin Ahead as Price Breaks “Legacy Trendline,” Says Analyst

Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called "legacy trendline." As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested...

Oct 14 2020

Troubles for Bitcoin as Hedge Funds Bet Against Stock Market Winners

Bitcoin faces the prospects of undergoing broader downside corrections as hedge funds rush to short stocks that surged impressively during the coronavirus pandemic. According to the Financial Times, some fund managers have increased their bets against the shares linked to technology, home gym equipment, grocery...

Oct 13 2020

Bitcoin Hits 5-Week High Ahead of Q3 Earnings Season; What’s Next?

There was no major stimulus announcement, but Bitcoin was still able to hit a five-week high on the first day of the week. The benchmark cryptocurrency established an intraday high of $11,736 before profit-taking sentiment pushed its exchange rate lower. Its price landed around a concrete support...

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...

Sep 28 2020

Bitcoin Weekly Outlook: Is BTC/USD About To Surge Higher?

Bitcoin was able to pare a significant portion of the losses it incurred last week due to a strengthening dollar sentiment. And now, the benchmark cryptocurrency is looking to continue its upside momentum based on a favorable fundamental outlook in the new week. BTC/USD was up 1.05 percent...

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