BitcoinLong
Bitcoin Shows Small Correlation, BTC Surges While S&P500 Down 2%
Not much of a technical analysis here, but just want to point out that Bitcoin over the past month has had many days where the markets were down by a high degree (2% down is a large move for the S&P) but bitcoin stayed flat or increased in value. The correlation of Bitcoin to equity markets is very low. This is exactly what institutions are looking for. Be on the lookout for more accumulation to 10k this week. Accumulators don't care what price they buy at when we are in the basement relatively speaking and the price will be over 200k in a few years anyway.
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.