Bitcoin Price Continues To Drop With Seven Daily Red Candles – Bitcoin Magazine

Bitcoin Price Continues To Drop With Seven Daily Red Candles – Bitcoin Magazine


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The under is an excerpt from a current version of Bitcoin Journal Professional, Bitcoin Journal’s premium markets e-newsletter. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

Bitcoin And The S&P 500

In our newest month-to-month report, which centered extensively on the evolving macroeconomic setting, we highlighted the robust correlation between bitcoin and equities over the course of 2020, whereas additionally referring to bitcoin as a quasi-24/7/365, inverse VIX (at present). Typically, which means when equities are bidding, bitcoin has gotten a elevate as nicely; and when equities are promoting off (probably alongside an increase within the VIX), bitcoin would face draw back stress as nicely.

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