Archiv | Juli 2020

Correlation between Bitcoin price and shares reaches new historical peak

Lately, the price of Bitcoin has shown record levels of correlation with traditional markets and on July 9 the correlation between the S&P 500 and BTC reached a new historical peak.

Skew data shows that the one-year correlation reached 0.38 on Thursday, July 9, and this came after the metric had reached new highs earlier in the week.

The correlation with traditional markets has been growing steadily lately, with new consecutive historical peaks being reached in one year. Skew’s data also shows that the 1-month figure also reached its historical peak of 0.78 on Wednesday, but has since fallen to 61.5.

Bitcoin’s correlation with gold is weakening, says a new report from Kraken
While the price of Bitcoin has shown a growing correlation with the stock market, the same cannot be said for gold, which has surpassed USD 1,800 to set a new peak not seen since 2011.

A recent report from Kraken’s research department found that the correlation with the precious metal has been declining. Bitcoin’s 30-day continuous correlation also reached a four-month low of -0.49, a level well below its annual average of 0.24.

Is the correlation a sign that Bitcoin is maturing?

The correlation between Bitcoin and the traditional stock market grew after the coronavirus outbreak and the March 12 collapse to $3,750. A recent Cointelegraph research report suggested that this trend could end after the halving, but the exact opposite happened. This is possibly due to the continuing economic consequences of COVID-19.

While a strengthening correlation between Bitcoin and the equity markets is said to be a sign that this asset class is maturing, the nature of Bitcoin’s unregulated derivatives makes it prone to upward and downward contractions.

3 reasons why the price of Bitcoin could collapse if the U.S. stock market crashes
Some analysts have suggested that Bitcoin’s correlation with traditional markets may indicate that BTC is increasingly represented in a wider range of traditionally structured portfolios, and this would be a sign that adoption is continuing to occur.

Is Bitcoin pricing on the verge of a correction?

With halving and all the hype around it, the price of Bitcoin seems to have flattened out. The digital asset reached a record low volatility, with the 10-day realized volatility reaching the 0.2 mark, a low not seen since November 2018.

Monthly Bitcoin volume trading into fiat or stablecoin

The monthly volume of Bitcoin traded in fiduciary coins or stablecoins. Source: CryptoCompare

The decrease in Bitcoin volatility also occurs in conjunction with the decline in trading volumes, and recent data shows that the volume of the BTC-USDT and BTC-USD trading pairs fell by 56% and 44% in June.

Bitcoin investors are up even when the Bitcoin price is below $10,000
As the price continues to find resistance at the USD 9,300 level, the shift from a strong downward correction continues to increase. For this reason, traders are looking at USD 9,500 while the short-term Bitcoin price needs to break higher. Otherwise, the risk of the price falling below the USD 8,000 level increases.

This trend can be seen in all cryptosystems and spot derivatives. In June, derivatives volumes fell by 35.7%, the lowest figure in 2020, and spot volumes fell by 49.3%.

The low volumes, low volatility, strong correlation with stocks and a declining correlation with gold seem to bring a bearish outlook to the Bitcoin price, especially as other safe haven assets are performing well.

Dieser Beitrag wurde am 24. Juli 2020 in Bitcoin veröffentlicht.

Bitcoin SV Rebounds, Venenos para Retestar a Resistência Aérea de 200 dólares

O Bitcoin Code SV recuperou acima de $150 para atingir uma alta de $200. O recente ressalto impulsionou a moeda para alcançar a região sobre-comprada.

Enquanto isso, a BSV está se retraindo da recente alta que a impulsionará para um novo movimento ascendente. Na região de sobre-compra, os vendedores surgiram para empurrar a moeda para baixo de $185. O preço foi corrigido para cima e testado novamente em alta de US$ 190.

Como resultado do reteste, a moeda desvalorizou ainda mais para $175 de apoio. Entretanto, o mercado está se consolidando acima do suporte de $175. A BSV retomará uma nova tendência de alta se o suporte atual se mantiver. Uma recuperação acima deste suporte impulsionará o preço para quebrar a resistência de $200. O impulso estenderá e reestabelecerá a resistência de sobrecarga de US$227. Entretanto, se os ursos quebrarem o suporte de $175, a moeda poderá cair para $160 ou $155 de baixa.

Leitura do indicador Bitcoin SV

A criptografia estava antes acima da faixa de 80% do estocástico diário, mas as faixas estão abaixo da faixa de 80%. Os vendedores surgiram para empurrar os preços para baixo à medida que a pressão de venda atingia a exaustão em baixa. O preço recuou e encontrou suporte acima dos EMAs de 12 dias e 26 dias. A moeda subirá enquanto o preço permanecer acima dos EMAs.

  • Zonas de Resistência Chave: $320, $340, $360
  • Zonas chave de apoio: $140, $120, $100

Qual é a próxima direção para a BSV/USD?

O Bitcoin SV está agora consolidando acima de $175 de suporte. Em outras palavras, o preço está acima dos EMAs. O resultado final é que o preço subirá se estes níveis de suporte se mantiverem. O contrário será o caso se os níveis de suporte forem quebrados. No momento de escrever a moeda RESUMOU o movimento ascendente.

Isenção de responsabilidade. Esta análise e previsão são as opiniões pessoais do autor que não são uma recomendação para comprar ou vender moeda criptográfica e não devem ser vistas como um endosso pela CoinIdol. Os leitores devem fazer suas próprias pesquisas antes de investir fundos.

Dieser Beitrag wurde am 13. Juli 2020 in moeda, Samsung veröffentlicht.