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

Continue reading

You Might Like


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report •
Thanks for sharing!
Send this to a friend