Here's why April may be the best month yet for Bitcoin price

in Steem Links • 3 years ago

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The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin (BTC) in the near term. Alternative assets like Bitcoin and gold are priced against the dollar. Hence, when the DXY starts to drop, it often causes BTC to rally against the dollar.

According to Holger Zschaepitz, a market analyst at Welt, the U.S. dollar's share of global reserves is rapidly declining as countries like Russia are pursuing a de-dollarization strategy and opting for gold.

Historically, April has been a strong month for Bitcoin throughout the past ten years, recording positive gains for five consecutive years since 2016.

https://cointelegraph.com/news/here-s-why-april-may-be-the-best-month-yet-for-bitcoin-price

#steemlinks #bitcoin #cryptocurrency #news #analysis
3 years ago in Steem Links by
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