The strength in the U.S. dollar may keep Bitcoin and select altcoins under pressure in the short term.
Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action.The short-term price action does not seem to worry the long-term Bitcoin bulls who expect a massive return in the next few years. While speaking at the Bitcoin 2022 conference in Miami, ARK Invest Chief Executive Officer Cathie Wood reiterated her Bitcoin price target of $1 million by 2030.Meanwhile, telecom billionaire Ricardo Salinas said during the conference that BTC and Bitcoin equities form 60% of his liquid investment portfolio. That is a massive increase from his Bitcoin exposure in 2020, which formed just 10% of his liquid assets.Daily cryptocurrency market performance. Source: Coin360While the long-term may be positive, Bitcoin
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