BitcoinLong
Geopolitics and Global trade Effect on Bitcoin
Hey guys welcome for a fresh crypto update
--------------------------------------------------------
A request from all of you to please like and follow our Hard work to keep encouraging us, there's no fee for likes and followings :)
--------------------------------------------------------
so in the current situation as we all know, due to Coronavirus Chinese Economy is suffering a lot and its directly affecting the whole world's economy
on the other side there's also fear of another war in middle east between US and Iran
so this things will directly effect Bitcoin , as Investors panic will lead them to invest their money in much safer assets like Gold , Silver or other precious metals which are limited and store of value
obviously Bitcoin is not so different from gold
--------------------------------------------------------
focusing on some other factors of slowing down in Bitcoin
you see in above chart S&P500 has an amazing rally in last some days, which is a small reason of capital shifting from crypto to stocks but now SPX is looking for a short pullback towards support zone
--------------------------------------------------------
as you see in above Nasdaq chart it has moved almost parabolic this week and now highly overbought in short term, so we can expect some regaining strength in Bitcoin as capital will start to shift from stocks to crypto
--------------------------------------------------------
here you see that Chinese Yuan CNYUSD has been in major uptrend since september 2019 and today we saw a drop breaking 0.1425 support and a lower low indicates for a trend reversal, and most likely sellers will now look for rallies to short CNY
this could be a postive impact on Bitcoin as capital will start to shift from CNYUSD to commodities like gold , silver and Bitcoin
--------------------------------------------------------
Thanks for reading...
--------------------------------------------------------
this is Husain Zabir, signing out
Thankyou...
--------------------------------------------------------
A request from all of you to please like and follow our Hard work to keep encouraging us, there's no fee for likes and followings :)
--------------------------------------------------------
so in the current situation as we all know, due to Coronavirus Chinese Economy is suffering a lot and its directly affecting the whole world's economy
on the other side there's also fear of another war in middle east between US and Iran
so this things will directly effect Bitcoin , as Investors panic will lead them to invest their money in much safer assets like Gold , Silver or other precious metals which are limited and store of value
obviously Bitcoin is not so different from gold
--------------------------------------------------------
focusing on some other factors of slowing down in Bitcoin
you see in above chart S&P500 has an amazing rally in last some days, which is a small reason of capital shifting from crypto to stocks but now SPX is looking for a short pullback towards support zone
--------------------------------------------------------
as you see in above Nasdaq chart it has moved almost parabolic this week and now highly overbought in short term, so we can expect some regaining strength in Bitcoin as capital will start to shift from stocks to crypto
--------------------------------------------------------
here you see that Chinese Yuan CNYUSD has been in major uptrend since september 2019 and today we saw a drop breaking 0.1425 support and a lower low indicates for a trend reversal, and most likely sellers will now look for rallies to short CNY
this could be a postive impact on Bitcoin as capital will start to shift from CNYUSD to commodities like gold , silver and Bitcoin
--------------------------------------------------------
Thanks for reading...
--------------------------------------------------------
this is Husain Zabir, signing out
Thankyou...
Related publications
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.