In the upside-down, topsy-turvy world of high finance, where the only constant is change, Real Vision CEO Raoul Pal has donned his wizard’s hat and proclaimed that the shrinking United States dollar might just be the magical spell to give our dear crypto coins a hearty boost this quarter. And lo and behold, Bitcoin, the grand sorcerer of cryptocurrencies, has already leaped nearly 4% in the past 24 hours as the greenback does the limbo lower and lower.
“With the dollar, rates and oil headed lower (all part of the cunning plan of Bessent, the Treasury’s own Merlin), financial conditions are now easing faster than a greased pig at a county fair, and they lead risk assets by a couple of months,” Pal conjured up in a March 5th missive to the world.
This monetary magic trick comes just a day after the US Treasury Secretary, Scott Bessent, waved his wand and muttered something about reducing US interest rates. Abracadabra! 🎩✨
Q2: The Bull’s Ballroom
“Should signal a good Q2 for tech and crypto and hopefully H2 2025 too as these trends continue,” he said, with a twinkle in his eye. Since the ancient days of 2013, the second quarter has been Bitcoin’s own personal harvest festival, with returns of 26.89%, according to the esteemed almanac of CoinGlass.
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Meanwhile, Bitcoin, the digital David to the dollar’s Goliath, has been slinging coins into the air, up almost 6% over the same period, now trading at a princely sum of $91,860, as per the ledgers of CoinMarketCap.
The crypto trading oracles at Bitcoinsensus have spoken, “Historically, a bearish DXY means one thing, bullish Bitcoin long term if drop continues the next coming weeks.” It’s as if they’ve been reading the entrails of the market, divining the future with the precision of ancient augurs.
We’ve seen this sort of hocus-pocus before, not so long ago during the great plague of COVID-19. Stimulus and rate cuts led to a weaker US dollar, and investors, seeking refuge from the economic pestilence, flocked to Bitcoin. Its price skyrocketed from a mere $5,000 in March 2020 to over $60,000 by April 2021. A veritable financial phoenix rising from the ashes!
And let’s not forget the prophecies of doom and dollar strength when Donald Trump was anointed as US President. Real Vision’s own seer, Jamie Coutts, peered into the swirling mists of the future and intoned, “The macro backdrop has soured. Dollar strength is not good for Bitcoin.” Ah, the wisdom of the sages!
So gather ’round, ye investors and crypto enthusiasts, as we watch the grand dance of the dollar and the digital coins. May your portfolios be as bountiful as the harvest and your humor as sharp as a wizard’s staff! 🌾🧙♂️
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2025-03-06 07:12