(DXY) collapse of the US dollar?
Updated
DXY is at a critical point right now at the end of May, The fact the United States is continuing to print cash non-stop and the fact our economy is slowly dying due to Cov-19, I believe the DXY is about to go on a harsh downtrend and maybe even revisit 2008 lows drastically affecting the strength of the USD and the economy as a whole. For sure gold and silver will be the safest bets for this upcoming crisis but how would Stocks and Crypto be affected by the result of the US dollar becoming weaker, and how can an average investor profit off this major event?
(Everything down below are for educational purposes only nothing i say is financial advice)
Stocks:
Overall most stocks will have a-lot of selling pressure and will most likely will continue to bleed intill the economy recovers
Gold and Silver:
Simple, When the dollar gets weaker gold and silver goes up thats why i its smart to have a good amount of savings into silver and gold assets so that you can maintain and grow your wealth during a crisis.
Cryptocurrency:
This is where a-lot of investors are divided and disagree about the future of Cryptocurrency. One half believe's that its the future and the market has huge potential while the other half believe's that most Cryptocurrency's are scams/Ponzi schemes and its not a real asset. in my opinion if the DXY does continue to go on a downtrend it will cause more buying pressure for Cryptocurrency's because of the fact nobody smart wants to hold cash if the value is decreasing rapidly over time. If your skeptical about Cryptocurrency 's I highly recommend you do research on both sides and then make your decision about the matter instead of just closing a blind eye too it.
(Everything down below are for educational purposes only nothing i say is financial advice)
Stocks:
Overall most stocks will have a-lot of selling pressure and will most likely will continue to bleed intill the economy recovers
Gold and Silver:
Simple, When the dollar gets weaker gold and silver goes up thats why i its smart to have a good amount of savings into silver and gold assets so that you can maintain and grow your wealth during a crisis.
Cryptocurrency:
This is where a-lot of investors are divided and disagree about the future of Cryptocurrency. One half believe's that its the future and the market has huge potential while the other half believe's that most Cryptocurrency's are scams/Ponzi schemes and its not a real asset. in my opinion if the DXY does continue to go on a downtrend it will cause more buying pressure for Cryptocurrency's because of the fact nobody smart wants to hold cash if the value is decreasing rapidly over time. If your skeptical about Cryptocurrency 's I highly recommend you do research on both sides and then make your decision about the matter instead of just closing a blind eye too it.
Trade closed: target reached
At first, the DXY looked like it was potentially going to collapse in Mid of 2021, over a year later the DXY rebounded towards the top of the pattern and broken out. The results of this event are good for the short-term and mid-term strength of the dollar but negative for Cryptocurrencies in general.Note
DXY continues to soar (Bull Run)Note
The DXY is using the 0.382 line as support... Bullish)
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