Bitcoin Looking Like it Has Likely Upside as it Trails Equities and Gold
๐ There is a major bullish divergence that has been forming over the past two weeks: ๐ Bitcoin's market value has DROPPED -5.9% since Aug. 22nd โก๏ธ S&P 500 has
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๐ There is a major bullish divergence that has been forming over the past two weeks:
๐ Bitcoin's market value has DROPPED -5.9% since Aug. 22nd
โก๏ธ S&P 500 has RISEN +0.4% since Aug. 22nd
๐ Gold has RISEN +5.5% since Aug. 22nd
๐ง Since early 2022, cryptocurrencies have been especially correlated with equities, as institutionals have increasingly added exposure to them alongside their stock holdings.
๐ค In cases like this divergence over the past 2 weeks, Bitcoin (and altcoins) have a high probability of playing "catch up" when they trail world economy price trends for a sustained period of time.
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