Billionaire investor Stanley Druckenmiller announced that he took a short position while expressing that the atmosphere of uncertainty in the US economy would have a serious negative impact on the dollar.
According to a recent report in the Financial Times, Stanley Druckenmiller with its short position It came up. Druckenmiller, US Federal Reserve (FED) predicting that it will have to reduce interest rates soon, announced that it took a short position on the dollar. increasing in the US economy the atmosphere of uncertainty is intensifying. The investor, who thinks about it, suggested that the FED will lower the interest rates and the dollar will lose value along with it.
The dollar index tends to move inversely with Bitcoin in the general conjuncture. A possible decline in the dollar index May trigger the rise of risk products, especially Bitcoin. One possible option for general market psychology is that as interest rates fall, the value of the dollar declines and alternative investments become more attractive to investors seeking higher returns and a hedge against inflation.
Druckenmiller used the following statements in his statement:
The only area where I feel comfortable is the short position I took in the dollar. Currency trends tend to continue for two or three years. We’ve had a long rise.
According to CoinGecko data, in the last 24 hours 9.7% rising BTC, at the time of writing from $29,900 is being traded.