Bitcoin Looking Like it Has Likely Upside as it Trails Equities and Gold
π There is a major bullish divergence that has been forming over the past two weeks: π Bitcoin's market value has DROPPED -5.9% since Aug. 22nd β‘οΈ S&P 500 has
Not financial advice. DYOR.
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π There is a major bullish divergence that has been forming over the past two weeks:
π Bitcoin's market value has DROPPED -5.9% since Aug. 22nd
β‘οΈ S&P 500 has RISEN +0.4% since Aug. 22nd
π Gold has RISEN +5.5% since Aug. 22nd
π§ Since early 2022, cryptocurrencies have been especially correlated with equities, as institutionals have increasingly added exposure to them alongside their stock holdings.
π€ 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.
Not financial advice. DYOR.
