Analysis: Bitcoin Poised for a Rebound Similar to 2023

After the U.S. Dollar Index (DXY) broke below the psychological threshold of 100, it hovers near multi-year lows. Andre Dragosch, European Head of Research at asset management firm Bitwise, points out that research from Goldman Sachs still indicates there is room for further downside in the DXY.
Trader BitBull states that the DXY is declining at the fastest pace since 2023. In early 2023, Bitcoin and altcoins rebounded from the bear market lows of 2022, with Bitcoin having bottomed in the fourth quarter of 2022 and rising over 200% within a year. Bitcoin is poised for a similar rebound in 2023, as optimism remains focused on the momentum of a weakening dollar.