Bitcoin Cryptocurrency News

How Bitcoin Outperformed Both the S&P 500 and Nasdaq in First Half 2020

Despite major setbacks from the Black Thursday market collapse, the cryptocurrency market and Bitcoin had a strong H1 close. The leading crypto asset by market cap also beat the best performing stock market index by nearly double. Will the strength continue into the second half of the year? Recounting The Rollercoaster Ride That Was The Read more…

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Bitcoin Cryptocurrency News

S&P 500 To Hit 4,000 In 12 Months, Veteran Strategist Predicts: Bullish For Bitcoin?

Veteran market strategist Jeff Saut recently made a bold prediction that the S&P 500 index will skyrocket in the upcoming year to over 4,000. Having in mind Bitcoin’s increased correlation with the prominent US index, such a surge could be considerably beneficial for BTC’s price as well. Saut: The S&P 500 Above 4,000 Within A Read more…

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Bitcoin Cryptocurrency News

Wells Fargo Warns Of Stock Shock From Biden Win, How Would Bitcoin Behave?

Past data shows that Bitcoin bull market breakouts typically happen following a US Presidential Election. However, Democratic party candidate Joe Biden has recently overtaken Trump in the polls – something Wells Fargo warns could shake up the stock market. And with Bitcoin tightly correlated to the stock market, a Biden win could be harmful to Read more…

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Bitcoin Cryptocurrency News

Why the Second U.S. Stimulus Round Could Stimulate a Bitcoin Rally

This week, United States President Donald Trump told media that Americans can expect a “generous” second stimulus check issued. Like the first round of checks, some of this money flowing into crypto could cause a short term Bitcoin rally. And with the stimulus potentially coming while Bitcoin is consolidating below resistance, it could lead to Read more…

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Bitcoin Cryptocurrency News

$15m Liquidated as Bitcoin Surges to $9,800 for the First Time in Weeks

After days of consolidation, Bitcoin experienced a crucial breakout over the past few hours. The cryptocurrency just minutes ago tapped $9,800, the highest price it has traded at in over 10 days. With this latest move higher, the cryptocurrency is up approximately 5% in the past 24 hours. This is strong, especially when compared to Read more…

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Bitcoin Cryptocurrency News

Why Bitcoin Trading in Tandem With the S&P 500 Isn’t a Bad Thing: Analysts Explain

One of the most common narratives in the Bitcoin space is that it is entirely uncorrelated with other financial markets. Because cryptocurrencies are mostly separate from normal economic trends, it was easy for many to think that BTC is unaffected by, say, a recession. But over the past few months, the narrative has quickly gone Read more…

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Bitcoin Cryptocurrency News

Analyst Who Predicted Bitcoin’s 150% Bounce From March Lows Is “Still Long”

When Bitcoin crashed to $3,700 in March, many were quick to throw in the towel. There was one prominent analyst that said that looking at the charts, he saw a good likelihood the cryptocurrency was to fall under $1,000. That would have marked a more than 70% correction from the capitulation lows. One trader, though, Read more…

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Bitcoin Cryptocurrency News

Bitcoin Largely Remains Uncorrelated to Stock Market, Crucial Data Shows

Bitcoin has shown some signs of being correlated to the stock market over the past few months, especially during times of bear-favoring turbulence This correlation, however, does not appear to be as striking as it seems, as data suggests that its macro-correlation to most traditional assets remains incredibly low One analyst explains that it has Read more…