The Dollar Is Weakening—Here's Why That Could Be Good For Bitcoin: 10x Research
Portfolio Pulse from Murtuza Merchant
The report by 10x Research suggests that the weakening U.S. dollar and actions by major central banks could signal an end to the global economic slowdown. This environment may benefit Bitcoin, as stablecoin activity has surged and the U.S. dollar has declined. A robust ISM Manufacturing Index could trigger a Bitcoin rally.
October 01, 2024 | 11:21 am
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The weakening U.S. dollar and potential economic recovery could benefit Bitcoin. The report suggests that a robust ISM Manufacturing Index could trigger a Bitcoin rally, potentially leading to new all-time highs.
The report highlights the weakening U.S. dollar and potential economic recovery as positive factors for Bitcoin. The surge in stablecoin activity and the potential for a strong ISM Manufacturing Index reading could lead to a Bitcoin rally.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90