Bitcoin bull Mark Yusko sees trouble at $60,000, calls the cryptocurrency ‘overbought’ right now

A bitcoin bull is on pullback watch. Hedge fund manager Mark Yusko believes investors will take profits due to the cryptocurrency’s sharp rally over the last few weeks. “There are a lot of people that think we could hit $100,000 by the end of the year. The stock to flow model says we should,” the … Read more

Why a top currency strategist decided now is the time to sell the dollar

U.S. dollars are counted by a at a bank in Westminster, Colorado. Rick Wilking | Reuters Top currency strategist Jens Nordvig said he has exited his long positions in the dollar and is looking for opportunities to short it, particularly against emerging market currencies. Source link

China’s digital yuan could pose challenges to the U.S. dollar

China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process of developing a CBDC, or Central Bank Digital Currency. It’s a form of money that’s … Read more

Digital dollar could push more investors into bitcoin, fund manager says

A digital dollar won’t doom bitcoin, according to two cryptocurrency fund managers. As central banks around the world consider digitizing their fiat currencies, the trend could actually push more investors into crypto, Grayscale’s Michael Sonnenshein and Osprey Funds’ Greg King told CNBC this week. “That will not displace or, if anything, take market share or … Read more

The U.S. dollar could be in a decade-long decline, analysts say

Nazanin Tabatabaee | West Asia News Agency | Reuters The dollar has entered a downward cycle it may not crawl out of for a decade. The dollar has been weakening since spiking in March, and strategists say its downward slide was reinforced last week when Fed Chairman Jerome Powell announced a new policy of average … Read more