It is time for another edition of Bitcoin vs. the US Dollar. These two assets tend to move against each other, meaning they are inversely correlated. When the price of Bitcoin is doing well, DXY, the US Dollar Currency index typically is not doing well. However, if DXY is doing well, then Bitcoin is typically struggling to maintain extended price valuations. With the dollar putting up a fight over the last few weeks, we need to remain somewhat cautious with regards to Bitcoin. If the Dollar continues to be devalued, then the chances are much higher that the price of Bitcoin breaks above $50k and re-enters price discovery mode. TA Video by Benjamin Cowen.
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