Grayscale: if the dollar weakens and interest rates stay low, it will be good for bitcoin
The team at Grayscale Research recently posted that if the U.S. dollar weakens and interest rates remain low, it will favor Bitcoin. That's because, like physical gold, Bitcoin is an alternative currency system that competes with the U.S. dollar in international markets. And it argues that the main downside risks to crypto valuations are a further rise in unemployment and a possible recession. As such, investors should pay careful attention to upcoming labor market data releases, including the next monthly jobs report scheduled for September 6th.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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