Strategist: A Weaker Dollar May Help Bitcoin Rise Again
According to Jinshi, LMAX Group strategist Joel Kruger stated in a report that a weaker US dollar, combined with increased investor risk appetite, could help boost Bitcoin once again.
Bitcoin fell by 1.7% due to trade uncertainties and concerns over tensions in the Middle East. The US Dollar Index dropped to a three-year low of 97.789. "A weak dollar typically benefits cryptocurrencies, and as investors shift back to higher-risk assets, a potential rebound in Bitcoin and Ethereum will be supported."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: The current Crypto Fear & Greed Index is 29, indicating a state of fear.
Ethereum's net supply increased by 18,469 in the past 7 days
Swiss crypto bank Amina Bank completes DLT settlement test via Google Cloud
Trending news
MoreCrypto prices
More
