After a short period of volatility, Bitcoin (BTC) returned to green trading on April 28th. One cryptocurrency market analyst believes that as the US dollar strengthens, its potential for digital assets to grow exponentially.
In further research into Bitcoin’s price action, crypto-trading expert Michael van de Pop has identified possible reasons for the current state of cryptocurrency in the cryptocurrency, with the US dollar’s relationship with BTC particularly strong at this time.
According to Pop, a few weeks ago, Jerome Paul mentioned inflation, which caused Bitcoin to fall sharply with stocks and indexes. Now, the analyst estimates that the dollar will move by 50 points (BPS) with next week’s inflation.
” I think the US dollar will go up for that event or maybe in the next few days and then it will start to adjust because the event is already worth it. Assets will continue to function well.
“Bitcoin has been strong since May and the dollar has been weakening and altcoins are declining. Bitcoin has been experiencing some experiments since then but the overall trend is that we are accelerating the momentum here. We are entering the numbers that are going up.
Bitcoin price movement
The fact that Bitcoin is rising above the US dollar index (DXY) and that the relative strength index (RSI) is higher on DXY at the moment indicates that this is the only asset that can be seen at this point. Time, according to Pop.
Regarding the analyst who identified the critical steps to maintain as a supporter,
“I want to make it clear that it will last for more than $ 39,000.
Bitcoin is currently trading at $ 38,991, up 0.72% in the last 24 hours from 8.28% last week, according to CoinMarketCap.
Finally, Pop not only thinks the BTC price will go up as a crypto community in the next few weeks, with 83% historical accuracy set for the May 31, 2022 high Bitcoin price.
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