More Gains for Bitcoin Ahead as Natixis Predicts Dollar Declines

The starting point for the Bitcoin market’s recent declines is the prospect of faster-than-expected economic growth in the United States, thanks to the extreme fiscal expansion and a recent rebound in job growth to pre-pandemic levels, which has boosted the bond yields and, in turn, accelerated demand for the US dollar in foreign markets.

But then, Bitcoin stays on its long-term bullish course, having surged by more than 1,500 percent at one point in time from its last year’s bottom on $3,858. The benchmark cryptocurrency was trading at $53,983 on Friday, still up 1,300 percent despite its recent decline.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDTBitcoin stays on its upside road despite the latest price correction. Source: BTCUSD on TradingView.com

More investors want to hold Bitcoin

Keep reading this article on Newsbtc.com.

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