Is the time right for $50K BTC? 5 things to watch in Bitcoin this week

Is the time right for $50K BTC? 5 things to watch in Bitcoin this week


Bitcoin (BTC) is keeping everyone guessing this week as another Monday starts below $50,000.

After rangebound movements over the weekend, bulls are still waiting for a decisive attack on the $50,000 mark — could it happen now?

Despite optimism from analysts, it seems that not even an “uber dovish” Federal Reserve has the fuel to push BTC/USD above crucial resistance.

Trending: Was Donald Trump Just Filmed Inside The White House?

Cointelegraph takes a look at five things which could still provide Bitcoin with new momentum.

Dollar comedown as stocks set for even higher highs

Stocks hit fresh all-time highs last week on the back of comments from Fed Chair Jerome Powell.

Correspondingly, the strength of the U.S. dollar took a hit, and the U.S. dollar currency index (DXY) began a multi-day downtrend.

Such conditions tend to be favorable for Bitcoin, and a lack of headwinds coming from the macro-environment could yet give bulls a helping hand.

“There is little doubt Powell was dovish, relative to market pricing and positioning,” one analyst told Bloomberg, echoing the general feeling

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