Cryptocurrency Analysis and News Portal
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
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It’s been an explosive past few months for Bitcoin, equities, and other global markets.After a liquidation event in March that sent cryptocurrencies down by over 50% and other asset classes down almost as much, a bounce has ensued that has largely deleted the losses of March.BTC now trades for $9,400,
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Bitcoin and S&P are correlated – that’s the idea that has been once again voiced by the prominent analyst known as Plan B.The stock-in-flow creator has reiterated that there is a definite correlation between Bitcoin and the stock market, including the S&P 500 index. In a series of tweets, Plan
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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
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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
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Bitcoin moved back over $9,000 earlier on Tuesday alongside signs of an improved risk appetite in the traditional markets. Prices rose to a high of $9,010 at 08:05 UTC, but quickly fell back below $8,900, pouring cold water over excitement generated by Monday’s 2.3% bounce from the two-week low of $8,630. At
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Bitcoin closed above $9,700 in hopes to wipe out its pre-halving crash amidst growing risk-off demand.The cryptocurrency broke its short-term correlation with the S&P 500 after the Federal Reserve gave a grim economic outlook.Instead, the BTC/USD exchange rate surged alongside its safe-haven rival Gold.Bitcoin extended gains a day after downplaying
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Since the lows that were experienced in March, both Bitcoin and the S&P 500 have been on a steep recovery.The leading cryptocurrency peaked at over 170% from the price of the March lows, while the S&P 500 gained from ~2,150 points to a recent high of 2,950 in dramatic fashion.Assets
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In the ever-curiouser markets of 2020, bitcoin is only slightly more volatile than the S&P 500 and nowhere close to the bumpy ride oil has been on.In early trading at 00:00 UTC, the world’s oldest cryptocurrency was in $8,800 territory before jumping as high as $9,125 on spot exchanges like
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Crypto analyst Mati Greenspan won the title of “father of the year” from the two hosts of Virtual Blockchain Week as he tended to his child while delivering a presentation to the virtual conference’s attendees. Greenspan explained that Bitcoin and legacy assets were more closely correlated than you might think
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