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Tuesday, August 25, 2020

Crypto VS Dollar: Are we bearish soon?

Crypto VS Dollar: Are we bearish soon?

Ethereum / Tether BITTREX:ETHUSDT

So to begin with, a negative dollar means a few things;
As the stock market valuations are pegged to the dollar, a weaker dollar will actually PUSH the DOLLAR value of stocks up, so technically the stocks are sometimes not rising on actual value but adjusting their real value to the new dollar rate.

Therefore, this holds true for Bitcoin and Ethereum , if the dollar falls in value, the price of bitcoin has to rise to adjust as Bitcoin / Ethereum has not lost any value, however, we can expect the same adjustment when the price of the dollar rises; unless external circumstances create new market conditions such as the Corona Virus Outbreak.

This may mean a bearish turnover for the crypto market, although we may not want to accept it.

You are all welcome to share your thoughts and opinions on this, and please SHARE & LIKE

-Megalodon

COINBASE:ETHUSD BINANCE:ETHBTC BINANCE:ETHUSDT BITSTAMP:BTCUSD BINANCE:BTCUSDT



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