The USD:MXN rate steadily increased to 20.75:1 over the past four weeks. Bitcoin rose to 56,000 USD levels while alternatives followed suit at a slower pace. Apologies for the delayed update; it’s been a busy month!
Short-term USD:MXN forecast
USD:MXN rates have been on the rise. This is a great time to send money!
Bitcoin has outperformed runner-ups over the last 30 days.
Let’s compare Bitcoin, Ethereum, and Solana’s performance over the last month. Bitcoin recovered 27%, Ethereum rallied 11%, and Solana fell -18%.
The bearish case is that this is a “flight to quality” as investors move towards safer assets, which typically precedes a crash.
The bullish case is that this is a relative correction in alternative cryptocurrencies, but the bull market is still in full effect.
We are leaning towards the bearish case, and feel a Bitcoin correction is likely in the coming weeks. Again, if Bitcoin breaks the prior all-time-high level of 64k USD, all bets are off and the bull market is back in full force!
Longer-term USD:MXN rate forecast
We think the exchange rate will be higher long term.
Best regards,
Will
-bridge21
The content in this update is for informational purposes only. You should not construe any information or other material in this update as legal, tax, investment, financial, or other advice. While we took care to share correct information from reputable sources, bridge21 cannot guarantee the accuracy or timeliness of the information.
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