Bitcoin is not supposed to have value linked to commodities or stocks.
Still—and if you’ve been following the charts you’ve probably noticed that bitcoin is progressing similarly to other markets.. One of the clearest examples of this is that the biggest movement in Bitcoin movements is observed as new markets are opened.. South Korea is a good example of this, while London causes frequent bitcoin movements.
Another example is ten minutes after the movements seen in the stock indices – more precisely, after as much time as the blockchain needs to determine the direction of the bitcoin price – Changes are being observed in bitcoin.
It would be weird if bitcoin wasn’t linked to other industries because everything related to money makes way for futures. This is especially true for new assets like bitcoin.
Shares are down for now, with the Dow hitting its 200-day moving average on Friday before it could rise again.. While the week of October 8, 2018 was a difficult week for stocks, it is not surprising that it was the same for bitcoin.. That makes perfect sense, the stock seller will also be the seller of their own crypto.
This is DOW:
This is Bitcoin:
It’s pretty good for the bitcoin price we see in the table. Especially for the uptrend. This will likely remain as the lowest value bitcoin will ever see.
So we are on the verge of a stock breakout for now, and if that happens, there is a half-time probability that bitcoin will break the $6,000 level and fall.
Some say, “digital gold ” He believes bitcoin will rise again, and frankly, it’s worth watching, after all, faith is not destiny. What happens to bitcoin can be very important to those dealing with securities.. If bitcoin shows a definite signal that stocks will fall, it will look like nobody is backing bitcoin.. This will be proof that people are moving away from secondary assets and turning to cash.. Thus, bitcoin can be the leading guide that investors need.
Forbes-Clem Chambers
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