Binance Research suggests that Bitcoin could find support as the pace of global monetary tightening slows. The prediction is based on the assumption that markets are pricing in a December rate hike by the US Federal Reserve. However, Binance Research believes that the actual policy decision may be more dovish than anticipated. This could lead to a decrease in the value of the US dollar and, in turn, a potential increase in the value of Bitcoin. The research firm points out that Bitcoin's price tends to be inversely correlated with the dollar's value, meaning that a weaker dollar can lead to higher Bitcoin prices.
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.