Cryptocurrency

Bitcoin exchange rate Chaos – it Was the one with the decoupling from the stock market?

A new week has begun and the corona are in crisis, the financial markets these days is in the grip of, in the next round. Of course, they were closed over the weekend, all the major exchanges around the world and there is no trading took place. Accordingly, the courses are neither up nor down. After it went in the last 14 days, also for the Bitcoin price downwards, the correlation between BTC and the history of the stock markets noticeably, even though Bitcoin is actually considered to be random or uncorrelated Asset. The opening of the markets on Monday will send important signals for the Bitcoin exchange rate, and it’s not looking good. It was the one with the decoupling from the stock market? We analyze in this article is for you, the Situation today around the Bitcoin exchange rate Chaos.

Bitcoin exchange rate again with high losses

Who today has looked the morning on the Bitcoin exchange rate, it will have already seen. The courses in the Crypto markets are red again. The who had hoped for a recovery, have been disappointed to date.The Bitcoin exchange rate at the time of writing the article almost 5,800 USD on the back of 8% in the Minus. However, not only the Kings Coin starts directly with high losses in the week. All of the other Top Coins come back under the wheels. Including Ethereum with even of 8.8%. The best can hold on to Ripple with XRP and a loss of 6.5%.If this is Monday should set the Trend for the coming trading week, it looks for traders and investors who had hoped for a slight recovery, rather badly.Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!

BTC price roller coaster continues

The losses at the present day, emerged at the weekend. Already yesterday, Sunday, the price dropped again. What is happening to the Crypto-markets fit well overall into the picture, because the roller coaster ride continues.After the Bitcoin exchange rate on 13. and 16. March has reached its previous local lows of nearly 3.800 USD and 4,200 USD, it was in a nice upward rally back to the 6.800 USD brand. This happened to were while in the traditional stock markets, rather light losses to the sideways movements. Many languages of a decoupling of BTC and stocks and hoping that Bitcoin can prove its strength in the crisis.

Stock markets as a reason for the recurrence of losses?

However, with this decoupling, the rail at the end of last week on the horizon, it is probably only once. The movements in the price show on Monday again. During the Bitcoin exchange rate is just under 8% in the Minus, so it looks to the rest of the markets of the world is not rosy.An example for this re-correlation of BTC and shares, the above-described Bitcoin exchange rate and of the history of the DAX. This doped on Friday at about 8.900 points, to crashing and then today the start of trading to 8,500. Currently endowed with a total of some 8,600 points and is still just under 3.5% in the Minus. Nevertheless, it is important to understand that Bitcoin had over the years with no correlation to other financial products. In the crisis all Assets have a correlation of 1. The people are fleeing to cash. As a result, only traditional financial products under the wheels, but also Bitcoin and Gold do not come. Therefore, the long-term significance of the short-term increasing correlation between Bitcoin and stocks tend to be more in question. It is, rather, a correction. The Bitcoin exchange rate is much broken and has to be strongly revised upwards. Therefore, the 6.800 USD Level could not be kept longer.The corona crisis has the Crypto market, and also the traditional financial markets, therefore, remain in the grip. This is no wonder, because a loosening of the current Situation seems to be still off in the distance. Only yesterday was pronounced by Angela Merkel and the Minister presidents of the Länder, a contact ban for more than 2 people.The correlation between the Bitcoin price and other Assets continues to be developed to be seen. But a crucial thing to keep in mind. The current Situation has fundamentally only seen the effects on businesses and States, the sales have recorded burglaries or more of debt must make. Bitcoin is not a company but a decentralised network. Regardless of how everything develops further, you would have BTC remain a Rock in the Surf.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.