Why does USD become weaker?(Intermarket analysis)
If you are looking at the chart of USD Index (DXY) and compare it with Bitcoin, soon you will realize that from March 20th 2020, USD gets weaker and weaker while Bitcoin getting stronger exponentially.
By looking at the growing list of major companies which accept Bitcoin, it is not hard to identify that US Dollar is loosing the ground to Bitcoin.
What major companies accept Bitcoin?
Major Retailers
Microsoft. Microsoft has been accepting Bitcoin for use in its online Xbox Store since 2014
Overstock. Overstock is currently leading the way in the shopping and cryptocurrency field
Home Depot
Namecheap
Starbucks
Electronics
Sleep, Bed and Bath
Twitch
Virgin galactic
Tesla
From technical point of view: USD has been in bearish Grand super cycle since 1971, when US Government put an end to gold standard. Last year, DXY broke below its EMA 200 and EMA 50 and it’s efforts to close above EMA 50 and trend reversal failed in the last 3 times.
I believe US Dollar is in a position that no one can help it to become strong once again, and accelerated money printing policy just help it sink more and more!
Moshkelgosha(Sniper Trader)
By looking at the growing list of major companies which accept Bitcoin, it is not hard to identify that US Dollar is loosing the ground to Bitcoin.
What major companies accept Bitcoin?
Major Retailers
Microsoft. Microsoft has been accepting Bitcoin for use in its online Xbox Store since 2014
Overstock. Overstock is currently leading the way in the shopping and cryptocurrency field
Home Depot
Namecheap
Starbucks
Electronics
Sleep, Bed and Bath
Twitch
Virgin galactic
Tesla
From technical point of view: USD has been in bearish Grand super cycle since 1971, when US Government put an end to gold standard. Last year, DXY broke below its EMA 200 and EMA 50 and it’s efforts to close above EMA 50 and trend reversal failed in the last 3 times.
I believe US Dollar is in a position that no one can help it to become strong once again, and accelerated money printing policy just help it sink more and more!
Moshkelgosha(Sniper Trader)
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