This is a long-term chart of the United States dollar against Bitcoin.
Every time the United States Dollar goes down, the price of Bitcoin does the inverse (UP).
Here is a rundown of the chart:
In March 2020, we saw the price of the United States Dollar (DXY) start to decrease while the price of Bitcoin started to increase.
In July 2021, the United States Dollar (DXY) price started to increase, while the cost of Bitcoin (BTC) decreased.
In September 2023, the price of the United States Dollar began to decrease, subsequently increasing the price of Bitcoin.
Now, here is the present day: As of March 7th, 2024, the United States Dollar relative strength index (RSI) is starting to decrease. We have to wait for confirmation on March 10th, 2024, to see if it crosses below. Then, we are expecting Bitcoin to reach $90,000.
Every time the United States Dollar goes down, the price of Bitcoin does the inverse (UP).
Here is a rundown of the chart:
In March 2020, we saw the price of the United States Dollar (DXY) start to decrease while the price of Bitcoin started to increase.
In July 2021, the United States Dollar (DXY) price started to increase, while the cost of Bitcoin (BTC) decreased.
In September 2023, the price of the United States Dollar began to decrease, subsequently increasing the price of Bitcoin.
Now, here is the present day: As of March 7th, 2024, the United States Dollar relative strength index (RSI) is starting to decrease. We have to wait for confirmation on March 10th, 2024, to see if it crosses below. Then, we are expecting Bitcoin to reach $90,000.
