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…
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…
Global markets performed better than non-correlated asset Bitcoin in the third quarter of 2019. The S&P 500 index (SPX) surged 0.68 percent on a quarter-to-date basis. The same period saw the Dow Jones Industrial Average (DJI) delivering 0.17 percent returns while Nasdaq fared between with 1.97 percent gains for its investors. Meanwhile, the Europe-wide Stoxx…
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…
In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin is trading against other currency pairs and not USD. We also look at BTC against WTI Crude Oil and the S&P 500. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 28, 2022 The market continues to be shaken…
Bitcoin price has rallied more than $300 intraday, meanwhile, the S&P 500 has fallen almost ten basis points in the same time period. Is this the fabled stock market crypto “decoupling” that analysts claimed was coming, or is this just an anomaly before a return to the ongoing correlation between the vastly two different markets…
Bitcoin faces risks of a short-term, but steep downside correction as Donald Trump threatens to terminate the phase one deal with China.Investor fears that a new trade war with Beijing would escalate the global economic crisis further amidst the Coronavirus-induced lockdown.Losses in the Wall Street index in March influenced traders to liquidate their bitcoin positions…
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…
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Bitcoin has been showing a tight correlation with the stock market – the largest correlation in the asset’s young history.A historically accurate sell signal has just triggered across three major United States stock indexes, which not only could cause another major selloff across all markets, but it could cause Bitcoin and the rest of the…