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
The total value locked in Optimism bridge surpasses 1 million ETH
Solana blockchain TVL is currently $8.948 billions.
Trending news
MoreCrypto prices
More
