Does a stronger dollar mean Bitcoin price is destined to lose $30K?

Cointelegraph

Published Jan 11, 2021 10:35AM ET

Updated Jan 11, 2021 12:20PM ET

Bitcoin price has been accelerating massively in recent months, with Bitcoin (BTC) rallying from $10,000 to $41,500. This rally went vertical without any major corrections in between.

However, every upward cycle has its standard 30% corrections, which can even be considered healthy for more upside.

BTC/USD 1-hour chart. Source: TradingView
BTC/USD 3-day chart. Source: TradingView
U.S. Dollar Currency Index (DXY) 1-day chart. Source: TradingView
BTC/USD 1-week chart. Source: TradingView

Continue Reading on Coin Telegraph