30 Apr - BTC failed to break long term trend line at $9500, hit $9450 abruptly before falling back to $8000 range.
We are in the midst of COVID19 pandemic, and right now we are in the 'hope' phase as Europe and US are reopening up their economies. In the earlier phase of this pandemic, there was a liquidity crisis and all asset classes were sold in urgent bid to get cash; largely due to margin calls as a result of massive selling.
Bitcoin has yet to break its correlation with the major stock market indexes. As Stock market is on its V shaped recovery right now @ 62% of SPX, we are eager to see if it soon reverses and how Bitcoin reacts from there.
We are in the midst of COVID19 pandemic, and right now we are in the 'hope' phase as Europe and US are reopening up their economies. In the earlier phase of this pandemic, there was a liquidity crisis and all asset classes were sold in urgent bid to get cash; largely due to margin calls as a result of massive selling.
Bitcoin has yet to break its correlation with the major stock market indexes. As Stock market is on its V shaped recovery right now @ 62% of SPX, we are eager to see if it soon reverses and how Bitcoin reacts from there.
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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.