US dollar hits new 20-year high — 5 things to know in Bitcoin this week

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The story "US dollar hits new 20-year high — 5 things to know in Bitcoin this week" was covered 5 months ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 5 mo ago

US dollar hits new 20-year high — 5 things to know in Bitcoin this week - Coin Telegraph

Quick Summary:

A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support.

Speaking on Bloomberg Television, Paul Christopher, head of global market strategy at Wells Fargo Investment Institute, warned that U.S.stocks would fall further, with the S&P 500 due for a trip below 4,000 next.

A classic inversely correlated relationship, dollar performance versus risk assets is in the spotlight thanks to the U.S.dollar index (DXY) making new twenty-year highs this week.