Hi, Followers and Friends !
The correlation between BTCUSD (BITCOIN) and stocks - SPX - has been showing a consistency, only on May it has begun to splinter.
Before then, price movements were following. When the cryptocurrency reached records in December, the S&P 500 reached its own a month later.
As S&P sold off in February and March, so did bitcoin.
There was a big drop on S&P volume, when Bitcoin was about to Moon, as you can see on the thunder symbols.
Although, a visible split has occurred on May, as you can see on the Bitcoin symbol.
What Now? Game Over for BTC? Money left BTC and is now going all in to S&P?
Well, volume on Cryptocurrency has gone very low and the correction has scarred out many investors. Specially Long Term Investors.
Until Bitcoin finds it's support and shows that is ready to grow consistently, money should go to S&P.
For now S&P 500 (SPX) should go Long, but I believe Bitcoin will catch up very soon.
What do You Think ?
Please Comment:
The correlation between BTCUSD (BITCOIN) and stocks - SPX - has been showing a consistency, only on May it has begun to splinter.
Before then, price movements were following. When the cryptocurrency reached records in December, the S&P 500 reached its own a month later.
As S&P sold off in February and March, so did bitcoin.
There was a big drop on S&P volume, when Bitcoin was about to Moon, as you can see on the thunder symbols.
Although, a visible split has occurred on May, as you can see on the Bitcoin symbol.
What Now? Game Over for BTC? Money left BTC and is now going all in to S&P?
Well, volume on Cryptocurrency has gone very low and the correction has scarred out many investors. Specially Long Term Investors.
Until Bitcoin finds it's support and shows that is ready to grow consistently, money should go to S&P.
For now S&P 500 (SPX) should go Long, but I believe Bitcoin will catch up very soon.
What do You Think ?
Please Comment:
Note
Will Drop At the Same Time?Note
So far, they are dropping together.Let's see how it goes.
Note
Dropped at the same time on June 19th. There is a correlation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.