Analysts warn that U.S. dollar could return to its 2018 lows as Bitcoin fundamentals steam to new records this week.Bitcoin (BTC) starts the week above $11,000 as fresh gains continue to hold — is $12,000 next or will bears gain control?
U.S. election could send dollar back to 2018
Bitcoin remains sensitive to macro phenomena as Q4 continues, and the U.S. election run-up could produce noticeable turbulence.The outcome of a Democratic win looks bleak for one macro indicator in particular: the U.S. dollar currency index (DXY), analysts say.In a report on Oct. 12 quoted by Bloomberg, Goldman Sachs warned that Joe Biden entering the White House could spook markets in advance, driving DXY down to its lows from 2018.