CandleFocus Real Vision Analyst Jamie Coutts Issues Bitcoin Warning Amid Strong Dollar Rally, Says Macro Backdrop Soured
2024-11-17
Author: Content Editor
Real Vision's head crypto analyst Jamie Coutts believes that the strength of the US dollar could pose a threat to Bitcoin's rally in the short term, although the long-term bullish structure remains intact. Coutts mentions that the dollar index is approaching a critical resistance level, which would not be favorable for BTC if it breaks. However, Coutts maintains a positive outlook for Bitcoin over the next year or two, citing a strong relationship between Bitcoin and global liquidity. Despite short-term volatility, he believes that BTC will continue to rise alongside an increase in money supply. As of now, Bitcoin is trading at $91,350.
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