The US stock market with new all-time high – is Bitcoin now next?

Global stock markets have fallen since last Friday, in move – in the hope that the US and China are finalizing an interim agreement. Add to that: most of The US companies were able to outperform in the third quarter, all of the expectations. The crypto market is benefiting from this optimism?

S&P relies on positive reporting

American companies were able to provide at the end of the third quarter, the best earnings in years. As a result, we updated the S&P 500 Index, the all-time high last week. It is expected that the Index will jump to new highs, with the S&P 500 Futures have no limits.
More than 75% of 358 U.S. companies in the S&P 500 Index have reported quarterly Performance, which exceeds the estimates of analysts, the Wall Street Journal, citing FactSet data. In addition, 66% of the companies have increased in the following trading session, with the highest values for the past five years.
Also, the stock markets in Europe, Asia and Australia have recovered. Share benefit from the message that the United States and China have reached a consensus on their trade relations. U.S. President Donald Trump thinks about a US site, the Chinese counterpart Xi Jinping to invite the signing of the agreement.
The appetite of investors to riskier Trades has increased Safe-haven assets such as Gold and silver are trading flat.

Bitcoin of the equity rally benefited?

The last two major US stock rallies preceded the Bitcoin rises in price or fell together with them – however, this is not necessarily the rule. In fact, Bitcoin showed values no correlation to traditional assets. Tom Lee of the Fund, entered predicted, however, in mid-October: The new all-time high of the S&P 500 is driving the crypto-market, as this would arouse the appetite of investors on the Trading.

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Bitcoin has recovered – however, due to China’s sustainable Blockchain-commitment. The recent rally in the stock markets of the cryptographic area has not responded yet, so the Bitcoin is stagnant Trading.
Interestingly, data from the token analyst that more and more investors to Bitcoin-exit positions on major stock exchanges. This means that traders will not want to miss the stock rally and Bitcoin for the time being on ice put?
Bitcoin seems to be currently a little inactive, he is likely to benefit from the recovery in the equity markets, however, in the long term.

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.