The Bitcoin cryptocurrency digital king is ready for an explosion that has to come sooner or later with the approaching halving. However, traditional markets and the Bitcoin market are subject to unprecedented correlation, which could hinder its rise. The coronavirus crisis has shown that the Bitcoin market is not as autonomous as many have thought.
Correlation: Traditional markets may hamper BTC
With the end of the coronavirus crisis approaching, many are looking for light at the end of the tunnel that will return Bitcoin to the historically confirmed track of the big bullruns.
However, many Twitter analysts and experts believe that Bitcoin can be slowed by a large correlation to the stock markets. The slump on March 13 has shown that Bitcoin is viewed as an extremely risky asset, at least in times of economic instability.
Wall Street Matador Tone Vays commented terribly on his dangling ideas in his recovered YouTube account.
Bitcoin fired just like last weekend. Somehow Bitcoin seems to be doing very well on weekends. At least for the last few weeks. I think it has to do with correlation…The problem is. that the shares will probably go down. Everything will be decided on Monday morning. ”
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