We impressively were shown just how strongly correlated bitcoin is with the global financial markets.
The hopes of many that BTC would be a safe haven and thus inversely correlated with the stockmarket, proved to be wrong.
This means, the next years will HIGHLY depend on what the global markets will do, and therefore how this pandemic will be resolved.
Will it be resolved faster than many expect? Or will this turn into a 2 year bearmarket?
If this crisis is resolved faster than we think, then there is still a chance that BTC will also recover and even hang along the MA200, recover and make new alltime highs in 2021.
In the 2 year bearmarket case, BTC will probably just follow the global stocks and also make new lows. No one can predict what will happen, but these two scenarios are imho the most likely.
Good luck to all in these brutal times. Let's try to get out of this healthy and with more money than before :)
The hopes of many that BTC would be a safe haven and thus inversely correlated with the stockmarket, proved to be wrong.
This means, the next years will HIGHLY depend on what the global markets will do, and therefore how this pandemic will be resolved.
Will it be resolved faster than many expect? Or will this turn into a 2 year bearmarket?
If this crisis is resolved faster than we think, then there is still a chance that BTC will also recover and even hang along the MA200, recover and make new alltime highs in 2021.
In the 2 year bearmarket case, BTC will probably just follow the global stocks and also make new lows. No one can predict what will happen, but these two scenarios are imho the most likely.
Good luck to all in these brutal times. Let's try to get out of this healthy and with more money than before :)