Bullish Bitcoin Ignores The Dollar’s Dramatic Rebound

bitcoin dxy 1 980x478

Bitcoin price has pulled back slightly but only after a more than 15% climb back toward previous highs. Thus far, a clean breakout has yet to arrive, but unseen by the naked eye, something important is going on in the relationship between Bitcoin and the dollar. The dollar is rebounding hard, yet the leading cryptocurrency by market cap has completely ignored the impulse. What could this mean, and how could this impact the current bull market? Bitcoin Bulls Fend Off Dollar’s Advance 2020 and the pandemic have forever changed the world for the better and for the worse. Many countries are so divided, they’re on the brink of civil war. To combat the spread of the virus and the damage preventative measures did to the economy, unprecedented money printing via stimulus packages have flooded the globe with fiat. At the same time, it has devalued the buying power of the…

Read the original article here