The stock market has been caught within an intense uptrend over the past couple of days while Bitcoin consolidates within the upper-$9,000 region.The ongoing equities rally has come about due to renewed hopes of the economy seeing a “V-shaped” recovery due to most countries across the globe easing their pandemic-related lockdowns.Recent employment data within the…
The Dow Jones Industrial Average closed out Friday’s trading session at 19,000 points, setting a record for the 4th largest single one-month red sell candle in the index’s history. And with Bitcoin recently tightly correlated with the stock market, it could make the cryptocurrency especially vulnerable to another crash.Dow Jones Industrial Average Sets Record for…
Bitcoin recently made a “Golden Cross” where the 50-day moving average closed above the 200-day moving average, a positive development for traders who see it as a very bullish indicator. However, the benchmark cryptocurrency fell sharply right after forming the bullish crossover.The bitcoin-to-dollar exchange rate slipped below both the 50- and 200-DMA earlier this week,…
Bitcoin and traditional markets logged a synchronous rally after crashing almost in tandem in March 2020.But the recovery has not impressed a vast majority of global fund managers, according to a survey conducted by the Bank of America.Only 1 out of 10 fund managers believe that the U.S. economy will register a V-shaped recovery, putting…