Techub News message: ARK Invest CEO Cathie Wood said that the US dollar is much stronger than investors believe, and that it could appreciate significantly in the coming years. She noted that the Federal Reserve’s broad dollar index shows the dollar has risen 36% since August 2008 and is currently 44% above its long-term average. Wood believes a stronger dollar could put pressure on gold and test Bitcoin’s ability to withstand its recent rapid surge. She pointed out that although historically Bitcoin has performed poorly when the dollar strengthens, in September Bitcoin still rose 6.14% even as the DXY increased. (BeInCrypto)
