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The Dollar Is at a 20-Year High. That’s Bad News for Bitcoin
Cryptocurrency Key Takeaways The dollar index has jumped to 20-year highs above 112 thanks to the Federal Reserve’s economic tightening policy. While the dollar is soaring, Bitcoin and other cryptocurrencies are struggling due to the Fed’s interest rate hikes. While the dollar is currently rising against other currencies, a decline in inflation or an end to the European energy crisis could revive interest in risk assets. Bitcoin and the broader crypto market are struggling to stay above their June lows due to renewed strength from the dollar. Cryptocurrency BTC Down as DXY Rallies Bitcoin is battling against the dollar—and it’s […]
Euro Hits 20-Year Low in Parity With the Dollar
Bitcoin Bitcoin The euro hit $1.0001 for the first time in two decades today. Key Takeaways The euro fell to a 20-year low of $1.0001 in Tuesday trading. A potential cutoff from Russian gas supplies and recession fears have accelerated the euro’s downturn. BitMEX’s Arthur Hayes has reaffirmed his view that Bitcoin could hit $1 million due to the collapse of the fiat money system. BitMEX co-founder Arthur Hayes said that the euro’s slide was a sign that Bitcoin could hit $1 million by the end of the decade. Bitcoin 1 EUR=1 USD The euro is starting to look almost […]