Why falling Bitcoin? The simple answer chief analyst eToro

At the end of June CEO of trading platform eToro Yoni Assia toldthat the cryptocurrency market is overrated. 90% of the crypto projects will soon cease to exist. However, the coins a lot more prospects than dotcom, he added.

Now a senior analyst at eToro’s Mati Greenspan said that the decline in the Bitcoin and cryptocurrency market due to the attempt of the U.S. government to strengthen the dollar. According to him, the depreciation of the coins is not associated with a decrease in the popularity of ICO and other factors. This writes the Ethereum World News.

The reason for the fall of Bitcoin. The analyst/h2>

According to Greenspan, most people perceive the dollar as the most stable currency and prefer it to digital money.

The United States seeks to tighten its economy and avoid severe inflation. The government is taking actions that are stronger and stronger strengthen the us dollar. Because the dollar is perceived by many people as the main reserve currency, the rate of which has not changed significantly in recent years, they tend to buy more currency, not paying enough attention to the digital money.

Greenspan also compares cryptocurrencies with traditional goods according to the type of precious metals and sugar, the price of which depends on the dollar.

At the end of this week it seems that cryptocurrency react negatively to the rising dollar. In other words, they behave as traditional products.

Stable dollar reduces investors ‘ concerns about the fact that Fiat money can strongly depreciate. This situation on the stock market.

What the outcome of the confrontation? Waiting for your suggestions in the top cryptodata.

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