Euro’s Fall Toward $1 Parity: What It Means for Crypto
— Crypto trading firm genesis global trading, Euros, Coindesk, Market, Trading, Dollar index .", Risky, Means, Digital currency group, Least risky — 1 min read
Forex market participants see the U.S. dollar as the 'least risky' currency. This is accentuated by the divergent interest rate paths between the US and EU. This could negatively impact the price of bitcoin in dollar terms, which for the past couple of years has been negatively correlated with the dollar index. Bitcoin's value has been at risk of falling in value due to the current turmoil, a market expert says. The euro and other currencies have seen a sharp drop in value since the start of the Eurozone crisis, a source of concern for the bitcoin market says said Noelle Acheson, head of market insights at the crypto trading firm Genesis Global Trading, said the drop could hurt the value of bitcoin's value. Source