Analysis: Bitcoin may experience a rebound similar to that of 2023

BlockBeats news, on April 16th, according to Cointelegraph, the US dollar index (DXY) fell below the psychological level of 100 and is hovering around a multi-year low. Trader BitBull stated that DXY is experiencing its fastest decline since 2023. BitBull drew an analogy between the current market trend and the performance of Bitcoin at that time, pointing out that in early 2023, Bitcoin and altcoins are rebounding from the trough of the bear market in 2022. At that time, BTC had already bottomed out in the fourth quarter of 2022 and had risen by over 200% within a year. Meanwhile, Andre Dragosch, head of European research at asset management firm Bitwise, pointed out that Goldman Sachs' research still suggests that DXY has room for further decline in the future.