Jamie Coutts Reveals Development That Will Skyrocket Bitcoin Price to $150,000!
Real Vision analyst Jamie Coutts provided an important perspective on how the performance of the US dollar will affect the price of Bitcoin (BTC). According to Coutts, the US Dollar Index (DXY), which is used to measure the value of the US dollar against global currencies, is trading within a specific range. This situation is of critical importance, especially for investors closely monitoring Bitcoin's price performance.
According to Coutts’ analysis, a decrease of approximately three percent in DXY from current levels could have a positive impact on the price of Bitcoin. Specifically, Coutts suggests that a drop in DXY below the 101 level could lead to a significant recovery in Bitcoin. At this point, he expresses that it could act as a kind of “rocket fuel” for Bitcoin.
Currently, DXY is trading at 104.52 level. However, according to Coutts’ prediction, if DXY falls below a certain level, Bitcoin’s price could experience a 127% increase. Coutts attributes this to the positive response of risky assets to weakness in the US dollar. He notes that DXY reflects the market’s real-time pricing of liquidity expectations and thus represents the key to the Bitcoin cycle.
“Risk assets love dollar weakness. DXY holds the key to the Bitcoin cycle as it prices the market’s liquidity expectations in real-time. And liquidity is coming. Watch for the 101/102 level in DXY. If that level breaks, we could see approximately $150,000 BTC in this cycle.”
Therefore, Coutts’ assessments underscore the importance of closely monitoring the performance of the dollar for Bitcoin investors. The strength or weakness of the US dollar can significantly influence Bitcoin’s future price movements.
Earlier this month, Coutts warned of a scenario where an upward movement in the US dollar index could send Bitcoin back to levels last seen in February.
“When money supply truly expands again, if DXY starts to rise (i.e., weaken), then you get the macro/liquidity signal for BTC, and that signal enters the race. However, DXY at 106/107 continues to be a scary level, and if broken, Bitcoin will likely retreat to the $50,000 low range.”
Bitcoin is currently trading at $66,359 at the time of writing this article.
Note: This is not investment advice.
