Bitcoin's next move and correlation to the stock market
Bitcoin's next move and correlation to the stock market

Bitcoin's next move and correlation to the stock market

By bitcoindelight | bitcoindelight | 13 May 2020


It seems a lot of people waiting for the next big move of the Bitcoin price - either to the down or upside. Majority of people are anticipating the post halvening price drop but so far BTC has even found some support and is currently being traded close to $USD 9k. 

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Litecoin is sitting at $USD 42.3 while Ethereum is being traded at the $USD 190 mark. 

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Question is though how strong is the Bitcoin price correlated to the stock market as we see some bearish signs on the horizon (have a look at Jonny Moe's technical analysis down below).

 

There is still a lot of awareness of Bitcoin's price crash during March and voices are still questioning if Bitcoin has failed as a safe-heaven during financial crisis. If we see a downward movement of the stock market I am really curious how Bitcoin and all correlated assets like Ethereum, Litecoin and $BAT will perform. 

 

So far I am not impatient and can keep my hands under control before possibly starting a few trades again. What is your opinion about the next move of the Bitcoin price?

Stay safe and good luck.    

 

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bitcoindelight
bitcoindelight

I started mining and trading in 2017, participated in airdrops, hardforks, and ICOs. I spent much time making myself familiar with technical analysis. I like to make people aware of things I am currently doing in the crypto space, projects I am currently spending time on.

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