Jakarta, CNBC Indonesia – The recent trend of weakening US dollar has caused the price of crypto tokens to rise slightly. However, the appreciation of this digital asset is still very limited.
Over the past week, the US dollar index, which measures the strength of the greenback against other currencies, has weakened by 0.45%.
At the same time, world gold prices increased by 1.57% and Bitcoin prices increased by 0.81%. But Ethereum crypto token prices tend to be stagnant.
Bitcoin price is still below US$20,000/BTC, while Ethereum price is also stuck below US$2,000/ETH.
The US dollar index has been tending to weaken since the beginning of November. Statements by Fed officials that they will reduce their aggressiveness in raising key interest rates have weakened the greenback.
But at the same time, digital assets like crypto tokens have been unable to rebound high as the threat of recession is still looming.
One savvy investor, Mark Mobius, even has a pretty dire prediction for Bitcoin next year.
Mark Mobius said that Bitcoin is currently in the technical support area in the USD/BTC 17,000 range. But for 2023, the price of Bitcoin has the potential to drop to 10,000 USD/BTC.
“With higher interest rates, holding assets like Bitcoin and other cryptocurrencies becomes less attractive because they don’t provide any returns,” he said, launching CNBC International.
“There are indeed some cryptocurrencies that offer yields of 5% or more on crypto deposits. However, the companies that made these offers went bankrupt along with FTX, so people are more afraid to deposit money into crypto tokens to earn interest” , he has declared. concluded.
The bankruptcy of FTX founded by Sam Bankman Fried has sparked fears among market participants. FTX, the second largest cryptocurrency exchange in the world, had to go bankrupt due to mismanagement and caused losses for many investors, triggering price pressures on other digital assets.
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