Legendary Trader Who Called 2018 Crypto Collapse Issues Bitcoin (BTC) Warning as US Dollar Goes Parabolic
— Bitcoin dominance currently sits around 42, Risk, Crypto, Total crypto market capitalization belongs, World banking system, Telegramcheck latest news headlinesdisclaimer, Market, Dollar, Positive development, Issues — 1 min read
Veteran trader Peter Brandt is issuing traders a warning about a particular Bitcoin (BTC) pattern he’s seeing on the charts. Bitcoin Dominance chart (BTC.D) has not reached 50% since July of 2021 when it bottomed out at around $30,000 before rallying to its all-time high at $69,000. Brandt said last week that it would be a positive development for BTC if it manages to reach 50% of the total crypto market capitalization. The US Dollar Index was recently trading at a 20-year high, explaining, “The global debt market is denominated mostly in USDs which means payback must be in USD. In effect, the world banking system is short dollars” Source