What a Rebounding Dollar Could Mean for Bitcoin and Altcoins

bitcoin btcusd sxy td9 980x573

Both Bitcoin and altcoins have enjoyed a near-perfect environment for them to thrive, all based on the dollar’s weakness and decline. It has allowed these digitally scarce assets to rise significantly in 2020. However, a rare signal suggesting that the dollar will soon reverse could put an end to the recent crypto bull rally. Here’s why. The Dollar Isn’t Dying, And A Day Of Reckoning May Be Coming For Crypto Unless you’re trading on a local regional exchange designed for just one country’s residents, chances are just about every asset listed trades against the dollar. It’s how the global reserve currency achieved its “almighty” status. Because the dollar is tied to so many assets, almost all financial markets lie in the balance of the greenback. When the dollar is strong, equities tumble, precious metals lose their luster and crypto tanks. During the Black Thursday flight to cash, investors so feverishly…

Read the original article here