Bitcoin Bullish Flip One Catalyst Will Make This Possible
Is the current state on bitcoin determinant on the meeting with the United States reserve which is referred as hawkish in this scenario. An analyst says that it appears that there is a strong relationship which lies with the S&P stock market as it will influence the performance of the price of bitcoin. In he’s words he says;
“Whenever there’s stock market volatility, Bitcoin’s in a strict downtrend. Even when the stock market is unstable and it’s seeing higher highs, lower-lows Bitcoin does not find support on those bounces. It’s just in a strict downtrend. People are very hesitant to bullishly bet on Bitcoin when the stock market is volatile.
Even when the stock market is going up, Bitcoin just can’t catch that support. And here we are guys, once again, the stock market volatile, increasing bear speculation. And we’re just not finding support. Even on the bounces, when the S&P 500 is bouncing, Bitcoin is just not finding support.”
With the US Fed Reserve hawkish stance that is said to has led to the current crypto winter which we are currently experiencing in the crypto market. The crypto analyst says that this is still applicable to the reversal of the bitcoin current market price. He’s projection is that the next bullish movement will happen April next year which we referenced the historic movement which was seen a few years ago.
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