Stimulus money pouring into assets like stocks, gold, and cryptocurrencies are having a dramatic impact on valuations. But as well as Bitcoin and precious metals are performing, it is Ethereum that has brought the largest return on investment since stimulus checks were issued. Exactly how much would $1,200 invested in Ethereum have earned savvy investors,…
Bitcoin has been forming a striking correlation to the S&P 500 and the rest of the stock market throughout the past few months. This correlation has only grown in recent weeks, and today’s slide in the equities market has led the benchmark cryptocurrency down to a crucial support level Analysts are now pointing to this…
Bitcoin faces a critical second half of the year as its correlation with the S&P 500 index nears 43 percent.While both markets have rallied impressively from their March 2020 lows, they are far from confirming a V-shaped recovery due to resurgence in the COVID cases.Meanwhile, the Federal Reserve’s fiscal support measures are ending in July,…
The correlation between Bitcoin and the S&P 500 has proven to be dangerous for the first-ever cryptocurrency. It even helped to drag down the asset during the Black Thursday collapse.The crypto asset’s new bull market on the horizon. Yet the correlation with the stock market is once again nearing all-time high levels and at risk…
Bitcoin could break above $10,000 in the next quarter.The upside sentiment matures as the S&P 500 hints at painting a super-bullish Golden Cross in July 2020.The U.S. benchmark’s growing correlation with Bitcoin could help it attempt a breakout towards $20,000.As bitcoin repeatedly struggles to close above $10,000, the S&P 500 is paving the way for…
As Bitcoin maintains its positive correlation with the S&P 500, a top analyst has predicted an all-time high for the U.S. benchmark.Research firm DataTrek published a note earlier this week that the S&P would rise by another 14 percent by the end of 2020.The prediction raised the possibilities of Bitcoin retesting its all-time high of…
Bitcoin price could hit $18,000 if it continues to maintain its positive correlation with the S&P 500, says mysterious analyst PlanB.The creator of the popular stock-to-flow model highlighted a 95 percent r-squared correlation between the two assets.He added that the global central banks’ unprecedented quantitative easing policy serves as a basis of rallies in both…
A shockingly similar fractal from the S&P 500 during the 2008 recession Bitcoin was born from is playing out across the cryptocurrency’s price chart.If the first-ever crypto asset continues to follow the same path as the SPX did back then, Bitcoin will set a new all-time high record before the end of 2020.S&P 500 Recession…
Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge.The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday.The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked short-term profits.Bitcoin…
The lingering correlation between Bitcoin and the S&P 500 may be soon coming back to haunt the cryptocurrency market if a chillingly accurate sell signal sends the major US stock index tumbling back towards Black Thursday lows.Could the correlation cause the same for the first-ever cryptocurrency?Bitcoin’s Continued Correlation With the S&P 500 Could Lead to…