Billionaire Hedge Fund Icon Claims Central Banks Will Not Embrace Bitcoin
Ray Dalio's View on Bitcoin: Ray Dalio remains cautious about Bitcoin, holding only a small amount while favoring gold as a more reliable asset. He expresses skepticism about Bitcoin's potential as a reserve asset for central banks due to its structural risks and the ability of governments to monitor transactions.
Concerns About Fiat and Stablecoins: Dalio is bearish on fiat currencies, citing issues like persistent debt and money printing. He also critiques stablecoins, stating they share the same long-term weaknesses as fiat currencies and do not serve as reliable stores of wealth.
Central Banks and Bitcoin Adoption: Dalio believes that central banks are unlikely to adopt Bitcoin due to concerns over control, transparency, and technological risks. He emphasizes that Bitcoin's public blockchain allows for government interference, unlike gold.
Current Bitcoin Market Status: Bitcoin is experiencing increased volatility, with a notable drop in value over the past few months, reflecting broader concerns about its stability and reliability as an asset.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36099.581 | 48049.791 | 60369.601 | 72319.811 | 84639.621 | 96589.831 | 108909.641 |
| Fibonacci | 48049.791 | 57320.938 | 63048.663 | 72319.811 | 81590.958 | 87318.683 | 96589.831 |
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