DXY has moved in the great downward channel since its inception. Locally, the index may rise to the resistance line. Eventually, I expect it will achieve its lows during the 20s.
how it possible when btc are going to 280k now, if USDT become of part DXY then mb it idea will take place. thx for idea
bits2sats
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@richcatx, DXY is way way bigger than tiny Bitcoin market. It is the DXY that moves Bitcoin not the other way round. For the Math, every 1% rise in DXY roughly equates to 8-10% drop on BTC. A rise to 110 on DXY which I also expect, albeit somewhat earlier (18-24 months) would push BTC to atleast 8k if not even sub 1k. Keep in mind this market is highly highly leveraged with a risk of high concentration of ownership among leveraged players.
JuvenalMachado
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@bits2sats, i suggest you go look at previous charts and draw a correlation, your math is completely wrong. btc and dxy are correlated -.3, times where dxy goes up and btc goes up, dxy goes down and btc goes down. saying 1% dxy = -10% btc is ignorance. the market doesnt work that way
bits2sats
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@JuvenalMachado, Yes my Math is wrong which is why DXY is up 0.55% and BTC is down 5.5% today. lol. At its peak DXY was up 0.9% and BTC was down almost 12% (even worse than my ratio). My post predicted this ratio to be maintained, and it was right. Meanwhile your theory is at best a theory. At best you can say that BTC can drop even harder than 10 times the rise of DXY. Way to convince the people.
JuvenalMachado
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@bits2sats, First of all, correlations are not a "theory" they are statistical facts. For the last 10 years, DXY and BTC demonstrate a -0.3 correlation meaning INVERSE correlation and LOW SIGNIFICANCE. Second of all, look at jan 18 - jan 21st sessions, DXY down 1%, BTC DOWN 9%, and like this, I can name you HUNDREDS of sessions where they don't display any perfect inverse correlation. Just because something happens a few times doesn't mean that's rule. If you think your ratio is going to be of any significance long term you're not looking at the numbers properly. BTC is up 300% since last July, so DXY is down 30% from last year? No, Ridiculous. Look for relationships that have actual significance LONG TERM.