Trading Bitcoin can be tricky — Here’s 3 key macroeconomic indicators worth following
Knowing when to buy and when to sell Bitcoin can be nerve-racking for investors, but a BTC macro cheat sheet from Cane Island Digital could ease the process.
When to buy and when to sell Bitcoin is a decision that continues to perplex investors to this day. A widening range of factors impact (BTC) price, and developing a methodology for consistently avoiding losses and generating a profit is essential for such a high-volatility asset.
Recently, Bitcoin analyst and Cane Island Digital founder Timothy Peterson shared a cheat sheet encompassing 8 macroeconomic factors that impact Bitcoin price. Let’s take a look at the top 3 metrics to understand how they correlate with Bitcoin price and offer insight into optimal buying and selling opportunities.
The DXY measures the US dollar value against a basket of major currencies. It is influenced by, among others, interest rates, geopolitics, domestic economic conditions, and foreign exchange reserves held in USD.
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Author: Marie Poteriaieva
