ICOCalendar.Today

  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍
  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍

Bitcoin Dives 5% From $7000 Daily High as S&P 500 Starts to Reverse

4/15/2020

Comments

 
After peaking just shy of $7,000 today, Bitcoin has tumbled lower, falling from the $6,950 high to $6,600 just minutes ago, a drop of 5%. Altcoins have followed suit, posting a similar loss to the crypto market leader. Bitcoin’s recent bout of weakness comes as the stock market has shown signs of reversing after last week’s rally, purportedly the strongest seen in decades. The S&P 500, per data from Google Finance, closed 2.20% down from the previous day’s close, while the Dow Jones slid by a similar amount. This trend has continued into the futures trading session, with the S&P 500 and Dow Jones both falling by 0.74% since Wednesday’s close. Considering that Bitcoin fell in tandem with stocks, it appears the correlation between the two asset classes is playing out yet again, despite those claiming that BTC is a “store of value” or otherwise. Bitcoin Could Bounce From Here BTC is closing the lowest it has in days, but the cryptocurrency may be preparing to bounce. A top trader recently observed that Bitcoin is breaching the lower Bollinger Band on the six-hour chart, which led to immediate bounces. When the lower Bollinger Band was pierced at the end of March, BTC spiked 8% in the two days that followed. Furthermore, the past four times the cryptocurrency pierced the upper Bollinger Band, multi-day corrections followed. Not So Fast Unfortunately for bulls, the bearish case seems to be more popular at the moment that the bull case. Per previous reports from NewsBTC, Bloomberg wrote in an early Monday article that BTC was then leaning bearish, citing the “GTI Vera Convergence Divergence Indicator, which measures up and down shifts.” At the time, the indicator suggested that the bull trend that began in the middle of March after the capitulation event is starting to “narrow,” indicating a loss of strength, “potentially indicat[ing] Bitcoin may be losing steam and could retest the $6,500 level.” The call for more downside has been echoed by other analysts. Crypto trader Smart Contracter indicated that with Litecoin currently making new lows, there’s a good chance BTC could follow lower, especially since the altcoin acts as a bellwether for the rest of the market. Photo by Jeremy Thomas on Unsplash

Via https://www.newsbtc.com/2020/04/15/bitcoin-dives-5-from-7000-daily-high-as-sp-500-starts-to-reverse/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-dives-5-from-7000-daily-high-as-sp-500-starts-to-reverse
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.