Bitcoin Gains Popularity as US Dollar Loses Its Value

Azeez Mustapha


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Investors in the US dollar divert to bitcoin as US debt default risk increases. The diversion is due to the fact that most investors now prefer investing in gold and BTC to US dollars. This concurs with the Bloomberg survey from the previous week. Bloomberg predicts that rather than fiat currency, more investors will put their money into gold, treasuries, and bitcoin.
Impressive has been the astounding rise in popularity of bitcoin among investors. Recently, more investors have started looking at BTC as a safe haven, which is bad for the US dollar’s growth. Although this is wonderful news for BTC and the current Bitcoin investors, the International Monetary Fund implied that very significant consequences are soon to come.

Key Bitcoin Levels To Watch – May 15

The US Dollar Loses Its Value as Bitcoin Gains Popularity
The market converged in a re-accumulation phase as the price consolidated after breaking the previous resistance of $25289.0. Following the expansion of the price upward, the buying momentum decreased as the bulls made plans for a second re-entry.
As the price left the FVG (Fair Value Gap),  BTCUSD is now leaving the oversold region according to the Stochastic Oscillator. Moreover, the price seemed to have made its last swing low prior to the incoming resumption of the uptrend.

BTC Key Levels

Resistance Levels: $31050.0, $37401.0, $48240.0
Support Levels: $25289.0, $19569.0, $15460.0
Total Market Capitalization: $1.14T
Bitcoin Market Capitalization: $530.00B
Bitcoin Volume: $14.2B
Market Rank: #1
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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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