Saturday, December 2, 2023
TopCrytpoNews.com
Shop
No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Market & Analysis
  • Bitcoin
  • Altcoins
  • Dogecoin
  • Ethereum
  • Litecoin
  • Solana
TopCrytpoNews.com
No Result
View All Result
Home Market & Analysis

One Indicator Is Likely To Determine Whether Bitcoin Stays in a Bear Market, Says Crypto Analyst Benjamin Cowen

Mikhailev by Mikhailev
August 21, 2022
in Market & Analysis
0
One Indicator Is Likely To Determine Whether Bitcoin Stays in a Bear Market, Says Crypto Analyst Benjamin Cowen
Share on FacebookShare on Twitter


Fashionable crypto analyst Benjamin Cowen thinks one indicator is more likely to decide whether or not Bitcoin (BTC) stays in a bear market.

In a brand new technique session, Cowen tells his 764,000 YouTube subscribers that Bitcoin has traditionally been inversely correlated with the US Greenback Index (DXY).

The DXY measures the worth of the greenback towards a basket of six foreign exchange.

Says Cowen,

“Now a whole lot of instances, whenever you see the greenback going up, it’s type of like a wrecking ball: it makes most different issues go down. Usually, you could possibly view it as folks fleeing into the relative security of the US greenback.”

Cowen says the Greenback Index has been in a basic macro uptrend since 2008. He notes Bitcoin bear markets have tended to correlate with the Greenback Index’s sharp strikes to the upside and vice versa.

“The overall relationship, as we’ve mentioned, is that so long as the greenback goes up, we’d count on Bitcoin to kind of keep both in a bear market or the very early phases of its accumulation part.”

Supply: Benjamin Cowen/YouTube

Bitcoin is buying and selling at $21,114.98 at time of writing. The highest-ranked crypto asset by market cap is down greater than 16% previously 5 days. In the meantime, the DXY is up round 2.3% this week.

I

Do not Miss a Beat – Subscribe to get crypto electronic mail alerts delivered on to your inbox

Verify Price Action

Observe us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses chances are you’ll incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in online marketing.

Featured Picture: Shutterstock/JLStock/Nikelser Kate





Source link

Related articles

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

December 1, 2023
Why this time is different

Why this time is different

December 1, 2023
Share76Tweet47

Related Posts

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

by Mikhailev
December 1, 2023
0

Ether (ETH) is buying and selling greater on Dec. 1, regardless of its incapability to breach the $2,100 resistance. This...

Why this time is different

Why this time is different

by Mikhailev
December 1, 2023
0

A wave of optimism across the potential approval of a spot Bitcoin exchange-traded fund (ETF) in america has ignited bullish...

Crypto-based AI markets, and AI financial analysis – Cointelegraph Magazine

Crypto-based AI markets, and AI financial analysis – Cointelegraph Magazine

by Mikhailev
December 1, 2023
0

We’re rolling out genuine use cases for AI and crypto every day this week — together with the reason why...

Is this the cycle to end them all?

Is this the cycle to end them all?

by Mikhailev
December 1, 2023
0

The traditional knowledge of the cryptoverse is that there's a boom-and-bust cycle to the blockchain and cryptocurrency trade. This cycle...

Bitcoin gets ‘whale games’ warning as BTC price eyes $40K into US data

Bitcoin gets ‘whale games’ warning as BTC price eyes $40K into US data

by Mikhailev
December 1, 2023
0

Bitcoin (BTC) held momentum at $38,000 on Nov. 29 as evaluation warned over market corrections.BTC/USD 1-hour chart. Supply: TradingViewBitcoin meets...

Load More
  • Trending
  • Comments
  • Latest
Why ApeCoin is on track to be the next Dogecoin

Why ApeCoin is on track to be the next Dogecoin

May 13, 2022
Square Enix NFT And Blockchain Plans Laid Out In Annual Report

Square Enix NFT And Blockchain Plans Laid Out In Annual Report

May 13, 2022
Is Austin, Texas About to Lead the US in Blockchain, Crypto and Sustainability? With Mission 6, it Appears So

Is Austin, Texas About to Lead the US in Blockchain, Crypto and Sustainability? With Mission 6, it Appears So

May 13, 2022
Jack Dorsey Names Reason for Next Bitcoin Price Surge

438.4 Million Dogecoin Moved to Robinhood for Fee That Easily Beats Any Bank

May 22, 2022
Japan’s Nomura dives into cryptocurrency derivatives trading (NYSE:NMR)

Japan’s Nomura dives into cryptocurrency derivatives trading (NYSE:NMR)

0
Cryptocurrency Avalanche’s Price Increased More Than 8% Within 24 hours

Cryptocurrency Avalanche’s Price Increased More Than 8% Within 24 hours

0
Bitcoin & Cryptocurrency Take Massive Nose Dive

Bitcoin & Cryptocurrency Take Massive Nose Dive

0
Todd Snider talks life on the road making music ahead of Southern California dates – Daily News

Todd Snider talks life on the road making music ahead of Southern California dates – Daily News

0
Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

December 1, 2023
Why this time is different

Why this time is different

December 1, 2023
Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

December 1, 2023
A case for Web3 chat apps with Push Protocol’s Harsh Rajat

A case for Web3 chat apps with Push Protocol’s Harsh Rajat

December 1, 2023

Recent News

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

Ethereum price rallies toward key resistance but is ETH’s strength sustainable?

December 1, 2023
Why this time is different

Why this time is different

December 1, 2023
Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

December 1, 2023

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Solana

Follow Us

Tags

Avalanche bitcoin bitcoin price bitcoin price in india bitcoin price today Blockchain Blockchain Wire business Business news Cardano Crypto Crypto Coins CryptoCurrencies Cryptocurrency cryptocurrency news cryptocurrency price today crypto market crypto news crypto price in india crypto price today Culture DeFi Dogecoin Dogecoin price ETH Ethereum fintech FTX investing Litecoin Markets News NFT Opinion Ripple SEO Shiba shiba inu Shiba Inu Price SOL Solana solana price TECH Technical Analysis Technology
  • Contact Us

© 2022 Top Crypto News - All rights reserved.

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Market & Analysis
  • Bitcoin
  • Altcoins
  • Dogecoin
  • Ethereum
  • Litecoin
  • Solana

© 2022 Top Crypto News - All rights reserved.