Bitwise analyst: A stronger dollar may prevent Bitcoin from breaking through $100,000

CoinRank News: The price of Bitcoin is approaching $100,000, but André Dragosch, head of European research at Bitwise, warned that a stronger dollar could pose a barrier to further gains for Bitcoin. He pointed out that historical data shows that Bitcoin generally performs weaker during periods of dollar appreciation, and an appreciation of the dollar also tends to mean tighter global liquidity, which may have an adverse impact on Bitcoins short-term trend. In addition, expectations that the Bank of Japan (BoJ) may raise interest rates in December have also caused market concerns. Analysts believe that expectations of a yen rate hike may lead to pressure to close yen carry trades, thereby bringing volatility to risky assets including Bitcoin. The recent rise in Tokyos consumer price index further supports this view, and Bank of Japan Governor Kazuo Ueda said that the Japanese economy is moving towards sustained wage-driven inflation. (TheBlock)