Subject: Crypto Craziness - What to Expect Next

 
 
 

News & Market Analysis - April 19, 2021

This saw traders shedding cryptos, including BTC and DOGE, and we saw some speculators shaking out of the markets, and bargain hunters adding more positions to their portfolio. But Bitcoin believers know that it is absolutely crazy to sell Bitcoin during a bull rally. BTC prices slumped over $10,000 on Sunday, but have been slowly climbing back. Here's why we expect the rally to maintain momentum.

Last Friday, gold prices recorded the best week in nearly four months, and a lot of those moves were mainly because of the Fed’s dovish tone. If we look at the US Treasury yields, we see the same theme that we can see for the dollar index, which is a move to the downside.

Given the fact that gold is trading above the $1,750 price level, if the weakness continues in the dollar index, we could easily see the gold price topping above the $1,800 price level.

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