Bitcoin this week broke up its three-month-old relationship with the US stocks. The hottest cryptocurrency is now dating gold. A rebound relationship ensues. In non-Woody Allen’s terms, the short-term correlation between Bitcoin and the S&P 500 plunged this week – from 78.8 percent two weeks ago to 42 percent. At the same time, the cryptocurrency’s proximity with…
It’s only halftime, and Bitcoin is leading the financial crisis sentiment by 1-0. During the first six months of the year 2020, the benchmark cryptocurrency experienced one of its biggest quarter-swings in more than two years. First, the coronavirus pandemic caused an unprecedented lockdown that soon resulted in a global market rout. Stocks fell, gold…
Predicting Bitcoin price is no less than looking into a crystal ball. As the cryptocurrency leaves behind a trail of endless bullish and bearish fractals, it gives traders a grain of data to predict its next trend. The reality remains the same: the Satoshi Nakamoto’s p2p cryptocurrency is an erratic asset. Its market is tiny,…
Bitcoin attracts Wall Street investors as the stock market threatens to pause its V-shaped recovery. Grim economic outlook, under-performing bonds and gold, and rising number of coronavirus cases adds up to make a bullish case for bitcoin. If Bitcoin is a Stark, then the month of March was its Red Wedding episode. Out of nowhere,…
Bitcoin price prediction for 2020 is a mix-bag of bearish and bullish cases. Skeptics like Nouriel Roubini and Warren Buffett thinks that the bitcoin price is going to go to zero in the near future. Nevertheless, many believe that bitcoin could attain a six-figure valuation. Last week, Renaissance Technologies’ Medallion announced that it would allocate…
