Analysis: Bitcoin and the U.S. dollar have a significant negative correlation. The current weakness of the U.S. dollar may make U.S. investors pay attention to Bitcoin again

avatar
PANews
04-21
This article is machine translated
Show original

PANews reported on April 21 that according to Matrixport's analysis, U.S. President Trump threatened to replace Federal Reserve Chairman Powell, although it remains unclear whether he has such authority. This event is considered a key factor in the recent weakness of the U.S. dollar. Historically, Bitcoin has shown a significant negative correlation with the U.S. dollar, and the current dollar softness may prompt U.S. investors to refocus on Bitcoin, highlighting its potential as a hedge against dollar depreciation.

Analysis: Bitcoin shows a significant negative correlation with the U.S. dollar, and the current dollar weakness may cause U.S. investors to refocus on Bitcoin

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments