The sudden fall if dollar index in 24 hours chart has create a history already. The reason behind the fall is still diverse from ongoing inflammation crisis of the qotld and the post-covid situation. Are we at th vergebof recession? This question is really concerning though the situation of the world harmony isbeing destroyed by the Ukraine-Russia war. Many nation around the world ia suffering due to the rising tensions among their allies whicha lead to WW3. And it is true that the current world is not in such condition to sustain a world WAR! In the meantime the dollar has gained immense power against any currency im 2022. All the currencies have lost a significant amount of value against dollar which is not a good sign at all. The nost reliable currencies like GBP and EURO has lost significant percentage which is very rarenin the history of the world economy.
The whole year spiking dollar index has lost rrecord numbers in a single 24 hours candle which is also an abnormal situation as such big drop in a single calender day is not a good thing for sustainability. But there is some positive thoughts for the other economy and specially for crypto currencies! Last 24 hours, BTC has been traded around 21400 whichbis a oositive sign and still it’s holding 21200 on sunday and if it is able to hold the value, there can be a movement uo to 29000 which make an amazinh ALT SEASON! Also, as the dollar imdex has performed beyond expectations without any major correction which is not a healthy movement. So now it is time for the downtrend that will make the other currency to be relaxed and the crypto marke a surging one! Though the world economy is not in stable condition, so we need to wait until the situation becomes enough clear to exolore and make a decision.
The yearly chart shows continuous upside movement of the dollar index whic has already make the longest daily red candle which in the whole year. The dollar index has lost a value of around 2.2 which is around 1.95%. Now, let's try to understand the reason behind it with considering the another global economic Giant. China as there are some news from Chinese govt. of openning up o the world! In recent days they have a ingoung Expo titled the "China International Imoort Expo" and the high officials in the session of the Hongqiao International Economic Forum, stated that global openness is now very urgent for all of the nation around the world. And it is true that the Covid-19 pandemic has brought a lot of reatrictions all over the world and the global businesses have suffered a lot.
This comment has a significant impact on the global economy which much more clearer from the Gaining value dor the Chinese Yuan after a long uoward. Recently, the currency dropped significantly to 7.31 Yuan Per dollar and today it is 7.18. Though decling dollar index will increase the value of other curriencies but for Yuan it is more important as therer is a claim that Chinese Bank ia not allowing to increase the price of Yuan for ther international trade benefits. So these two simultaneous effect is important for taking decision regarding thw dollar index and investment plan in crypto or in assests like stocks or other assets!
Despite the rising protectionism and anti-globalization sentiment around the world, the process of globalization will still roll forward despite the twists and turns it's facing, senior government officials and top economists said Saturday at a session of the Hongqiao International Economic Forum during the ongoing China International Import Expo.
They made the remarks at the press conference on the World Openness Report 2022 and International Symposium on the Current Situation and Prospects of World Openness, after reviewing the report, which was jointly released by the Institute of World Economics and Politics under the Chinese Academy of Social Sciences, and the Research Center for the Hongqiao International Economic Forum.
Full article is here from the China Daily
What expect next? As a crypto enthusiasts, I always wait for the opportunities and try to learn finding the Relationships among the crypto and the Conventiona Economic System. Without the convenional one it is not possible to attribute a vale to the crypto which can be measurable to buy a cheap ice cream and a costly Iphone! Still I am pondering over the following situation to consider for staying safe in thecrypto universe!
It’s time be over confident with the BTC crash to 12000 which is seemingly not possible.
The overall crypto market will gain a lot in short term as history says November and December are crypto spring, remember not bull market but gain some value.
The most important thing is about the blinking Bull market of the ALTs which currently clearly visible in the charts.
Best time to start inveting in some good projects which have already proved its capability to sustain in the ongoing crypto winter.
Finally, the overall situation gonn be morr greener if there is no abrupt abnormity in the space.
Thanks a lot for your time and attention. I am not a processional in investment or fund management. I learn these as a hobby as a cryoto enthusiast. If you have any query ot questions, you can write in the cimments. I will try to answer according to my knowledge and experience. I wish you a great success.
Have a great Weekend!
