It's Still All About the Dollar

Louis Sykes
September 29, 2022

See what a little dollar weakness can do?

It's hilarious. This little observation is becoming a running gag around here. Because, let's face it, in this tape, a strong dollar has proven to be a significant headwind.

The analysis need not be more complicated than this basic framework.

The simple fact of the matter is that if you're going to make money long equities and cryptocurrencies in the late stages of 2022, you're betting that this dollar strength will ease off.

As long as the dollar remains strong, expect Bitcoin to remain under pressure.

Evaluate yesterday's action: The dollar sells off, and Bitcoin pumps hard.

Yeah, this is just another note about the dollar. But we want to be obnoxious about driving home this key piece to the puzzle.

Make no bones about it: If you want to make money long cryptocurrencies, you're betting on a weaker dollar.

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Allstarcharts Team

 

 

 

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