BTC dominance has been breaking all resistance even when BTC broke ATH altcoins are still struggling. traditional investors joined the Crypto Market and since then they are controlling the Bitcoin price which resulted in huge depreciation to ALTs Price and Market Cap. some good project did have some nice runs but 80% ALTs are still underwater. And according to the report, bitcoin’s market capitalization still has plenty of room to grow from its current level of just over USD bn today, if the asset becomes widely used as either: A global settlement network A protection against asset seizures A form of digital gold; or. Dec 18, · As more money is pumped into the market, we expect the U.S. dollar to continue trading against most of the major fiat currencies but this weakness is likely to be more pronounced against bitcoin.
Bitcoin market cap usdBitcoin Market Cap: ₿uy the Dip and HODL
As more money is pumped into the market, we expect the U. Recent comments from Fed Chair Jerome Powell seem to support this dovish outlook and this is likely to remain the case for an extended period of time. Currently, the monetary policy prospects for historic lows in U.
In global currency markets, this means that investors are unlikely to buy the U. On the daily charts, we can see that despite the generalized weakness and lack of interest that has been displayed relative to the U.
Given the valuation divergences that currently characterize each of these assets, it seems reasonable to assume that the BTC part of the equation is what is actually drawing the market's interest.
Of course, this shouldn't be much of a surprise for bitcoin bulls because we have just broken to new record highs and this alone could be expected to act as a critical factor influencing market psychology at current levels.
In order to maintain this bullish perspective, we'd like to see these market volume levels maintain themselves as any declines from here might suggest that the majority of investors are looking elsewhere for value after the cryptocurrency's recent gains.
Reader interaction is the most important part of the investment learning process. Comments are highly encouraged! We look forward to reading your viewpoints. I wrote this article myself, and it expresses my own opinions. The US government can also raise debt at attractive interest rates, supporting the dollar's status. But a competitive challenge lies in the crypto space and in the rise of stablecoins. Shalini Nagarajan. Although the bitcoin rally was largely driven by institutional investors, he expects to see continued buy-in more from retail and Wall Street investors going forward.
The researcher expects the US to digitize the dollar, but not too soon as he said "the Fed is happy with the way the world is. Visit Business Insider's homepage for more stories. Read the original article on Business Insider.
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