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Bitcoin (BTC) reacted to fresh strength in the U.S. dollar on Sep. 21 to follow stocks downward and move away from $11,000.Cryptocurrency market daily snapshot, Sept. 7. Source: Coin360DXY surge spells BTC price weaknessData from Coin360 and Cryptox Markets showed BTC/USD hitting lows of $10,570 on Monday, its lowest in
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Read MoreThe Bahamas is gunning to become the first country in the world to roll-out a state-backed virtual currency nationwide, and has announced it will launch a central bank-issued cryptocurrency during October.The assistant manager of eSolutions at the Central Bank of The Bahamas, Chaozhen Chen, told Bloomberg that the digital currency,
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While Bitcoin is touted as uncorrelated, the cryptocurrency has been following the inverse of one asset over the
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The United States dollar has started to rebound from a multi-year support level. Simultaneously, the prices of both Bitcoin (BTC) and gold have both dropped off.Additionally, the European Central Bank’s (ECB) warning against the appreciating euro is further catalyzing the dollar’s rally.ECB looks to weaken the euro as the dollar
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The dollar’s impact on markets in 2020 cannot be overstated. Its weakness and decline in the face of
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The U.S. dollar index has declined to 92 points, as the greenback struggles to outperform other reserve currencies. The price of spot gold is benefiting from the fading dollar, rising to as high as $1,992 during the week’s peak. Some investment firms are not changing their pessimistic stance on the dollar, predicting
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Sell-off in the U.S. dollar and ether's price rally power gains in bitcoin. Source
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Federal Reserve Chair Jerome Powell introduced the central bank’s plan to target a 2% average inflation rate. Since then, strategists have expressed concerns about inflation and the potential risks to market stability it could bring. It poses more selling pressure on the U.S. dollar, which already declined substantially in the past four
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The Dow Jones rallied 120 points Friday. Jerome Powell’s push to boost inflation weighed on the U.S. dollar. Coca-Cola stock boomed despite announcing 4,000 layoffs. The Dow Jones rose on Friday as a weak U.S. dollar helped to buoy risk sentiment. Economists at ING are pessimistic about the upcoming August jobs report. Dow Rises
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