In this post I would like to examine BTC's price movements in relation to the stock market, and what they may, or may not have in common.
Here we can see that in the long run, people ARE here to support BTC, everyone just wanted the best price you can get for it. As soon as it got close to the 1 week moving average, it turned right around.
What I found strange here is that I was almost positive that stocks, and cryptos, SHOULD (IMO) have an inverse relationship. When the money is on fire in stocks, you would think it would run to assets like gold, silver, commodities, and cryptos. That is not what we saw here though.
Will we see markets continue to ride with each other, or will they prove to have inverse relationships, or no relationship?
Personally I still believe that we will see an inverse relationship as time passes. If stocks turn bearish while cryptos are also bearish, I would take this as a sign that the money isn't running away, but rather maneuvering, and the markets will recover quickly. A bearish stock market and a bullish crypto market is more likely genuine concern in the stock market. The inverse would also be true, a bullish stock market and a bearish crypto market would indicate strength in fiat, and lack of excitement in the places one would hide from fiat.
Looking cool the BTC update. It will be good for us in future. Thanks fir sharing
Bitcoin price regression fit using on-chain and exchange trading volume data. A more bullish perspective.. :)
Thanks for btc update
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Good post 👍👌, Please upvote back me, @hazmisyahputra, thank you.
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