Bitcoin Price Forecast – Focus on the Dollar

#bitcoin Price Forecast  Focus on the Dollar #blockchain #btc #eth #etc #ltc #xmr #ico #xrp

  • We had mentioned in our forecast yesterday that the bitcoin prices are likely to fall further on fundamental and technical factors and this is what we saw for the first half of the day yesterday.
  • We have been asking our readers to maintain an eye on the dollar prices as well as the bitcoin prices, like that of every other currency, are expressed as a combination of the prices of bitcoin and the dollar.
  • It is very convenient for many of the traders to focus just on the bitcoin aspect of this combination and lose sight of the equally important currency in the dollar.
  • It is very important that the trader has an eye on the relative strength of the dollar as well so that he can trade the bitcoin prices accordingly.
  • With the dollar expected to continue to weaken in the short term, we should see the bitcoin prices move higher and continue the bullish trend that we are likely to see in the cryptocurrency industry in the days and the weeks to come.

We had mentioned in our forecast yesterday that the bitcoin prices are likely to fall further on fundamental and technical factors and this is what we saw for the first half of the day yesterday. But this was soon followed by  a recovery in the prices which has since pushed the prices steadily higher
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