Analyst Kevin Svenson warns of the negative impact of the rising dollar on the BTC rate
The expert allowed the value of the first cryptocurrency to fall to $18 600
06.09.2022 - 10:35
472
1 min
0
What’s new? Cryptocurrency analyst Kevin Svenson posted a warning on Twitter about a possible downward movement of bitcoin. According to Svenson, the US dollar soared to its highest level in 20 years, and bitcoin fell below the diagonal support level that has kept the asset afloat since its June lows of $17 600.
As of right now it just looks like continuation unless we were to bounce back above the trendline.#Bitcoin pic.twitter.com/LhcQVNLAhz— Kevin Svenson (@KevinSvenson_) September 3, 2022
What other statements have been made? Svenson admits to a bearish scenario for bitcoin because he believes that the US dollar index (DXY), which tracks the value of the dollar against a basket of fiat currencies, is still in a strong uptrend. If the dynamics continue, bitcoin could hit lows of $18 600.
As of September 6, 10:00 UTC, BTC is trading at $19 918, up by 0,68% per day, according to Binance. DXY is 109,66, down by 0,15% overnight, according to Investing.com.
In June, Svenson called altcoin with 100-fold growth potential. He stated that should the Ethereum rate fall to the $500-700 range, the Chainlink (LINK) price would fall to the $2-3 level. At the same time, according to the trader, in the next few years, LINK will bring a 100-fold return if one buys the asset in this price range.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$88 081
BTC
-5.1%
-
Ethereum
$3 084.76
ETH
-7.05%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.388145
DOGE
-6.94%
-
Ripple
$0.712626
XRP
+0.15%
-
Cardano
$0.548857
ADA
-7.94%
-
Bitcoin Cash
$420.27
BCH
-4.51%
-
Polkadot
$4.83
DOT
-10.48%
-
Litecoin
$78.46
LTC
+2.08%
-
Stellar XLM
$0.122996
XLM
-6.57%