BitcoinShort
BITCOIN & SP500 | THE SIMILARITY IS PRECEDENTED | NOT A HEDGE.
No unnecessary words needed. The chart speaks volumes.
VERDICT: Bitcoin is not a hedge and will follow the broader markets until this recession/pandemic is over. Just ask yourself... why would bitcoin act differently?
- Bitcoin has never experienced a recession let alone a pandemic.
- Bitcoin will follow and mimic the global economy so long as economic implications exist.
- Main indicator for investing in Bitcoin should be the SP500, or any other equity index.
- This isn't a bull market. This is a bull trap correction.
VERDICT: Bitcoin is not a hedge and will follow the broader markets until this recession/pandemic is over. Just ask yourself... why would bitcoin act differently?
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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.