In a recent video we told people to keep a sharp eye on the US Dollar or DXY (US Dollar Currency Index). We hypothesize that a bounce by DXY would likely not be good for Bitcoin. The reason we discussed a potential bounce of the US Dollar is because we are essentially at the same valuation that USD bounced 3 years ago, which ultimately ushered in the cryptocurrency bear market. In order to have more insight into where the price of Bitcoin may be headed in the short-term, make sure to watch the valuation of the US Dollar! TA Video by Benjamin Cowen.
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