Cryptocurrency
Decoupling? Bitcoin Price Up 40% Since Last Week, Stocks Not So Much
As reported on Cointelegraph, “Bitcoin (BTC) price rallied above the $5,500 resistance on March 19, overtaking $6,000 as the digital asset stampeded to $6,359. The 18%+ rally restored more than $800 in value to Bitcoin price. “Since last week’s catastrophic 50% correction, Bitcoin price has recovered by 40% off its low at $3,775. Traders will […]
As reported on Cointelegraph, “Bitcoin (BTC) price rallied above the $5,500 resistance on March 19, overtaking $6,000 as the digital asset stampeded to $6,359. The 18%+ rally restored more than $800 in value to Bitcoin price.
“Since last week’s catastrophic 50% correction, Bitcoin price has recovered by 40% off its low at $3,775. Traders will now watch to see if the previous levels of resistance at $5,500, $5,900 and $6,300 will function as support…
“…Interestingly, aside from today’s stellar performance, major equities markets continue to struggle as Bitcoin is in the midst of a strong recovery. Data from Skew shows that even though Bitcon price action has been in tandem with major markets, the digital asset now appears to be breaking this trend and decoupling from the performance of the S&P 500…”