The #Bitcoin and #Crypto markets have seen a strong correction over the past weeks. Why was this taking place? The correlation with the underlying technology stocks is…
Original source excerpt
The #Bitcoin and #Crypto markets have seen a strong correction over the past weeks. Why was this taking place? The correlation with the underlying technology stocks is significant. If the Nasdaq g…
The #Bitcoin and #Crypto markets have seen a strong correction over the past weeks. Why was this taking place? The correlation with the underlying technology stocks is significant. If the Nasdaq goes down --> #Bitcoin goes down. If the Nasdaq bounces up --> #Bitcoin tends to go back up too. That's what we've seen happening, in which, from a technical standpoint, a lot of liquidity has been taken on recent lows of the Nasdaq, resulting in a strong push today. It's very likely that a similar outcome will occur for Bitcoin.
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