Cryptocurrency analyst and trader Jason Pizzino is saying that Bitcoin (BTC) has more upside potential amid a weakening US dollar.
In a new strategy session, Pizzino tells his 353,000 YouTube subscribers that the US dollar is likely to experience “further downside,” a factor that will benefit the price of Bitcoin.
“I think this is good news for Bitcoin at this stage of the cycle…
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I’m counting on the US dollar continuing down. And in this stage of the cycle, where Bitcoin still heading up, I would still count on Bitcoin going up with the weakness in the US dollar.”
Pizzino also says the stock market’s current setup, as reflected in the S&P 500 index, is another bullish catalyst for Bitcoin.
“Now, we’re seeing further upside
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