The is low and going lower
Recently we've also been seeing a correlation between Bitcoin and the SPX . Bitcoin started to drop and the SPX is closed on the weekend, it is possible for the SPX also to drop on Monday if the correlation is to continue.
See Bitcoin ( BTCUSD ) here:
I also looked at past history and how the SPX behaves in this type of scenario and another drop is common.
So, even if you see it going up, it is very likely to drop strong and suddenly in the near future.
That's just my opinion of course... Do you agree or not?
Share with us in the comments section below.
I mean hell, the NASDAQ is about to test the ATH. That explains enough. This is far more than a bear market bounce at this point.
Also in regards to bitcoin, there isn't a true correlation with stocks but bitcoin won't go up significantly if stocks aren't somewhat holding. Really the recent move on BTC is just based on the halving. It's kind of funny how that perfectly aligned with this whole virus stuff. I'm overall bullish on BTC for many reasons I liquidated my position at this recent top expecting this move. Now I'll wait to rebuy 6400-7400 IMO.
I can see your perspective but I don't think the US government will be able to keep up.
Feel free to share your chart here with us.