Driven by the U.S. and Chinese trade optimism, the stock prices rose on Thursday in the world. Elsewhere, the historical victory of the British Prime Minister, Boris Johnson caused a recovery of the British and European shares.
The markets have become volatile – but what is a Bitcoin? An analysis of the medium-term scenarios.
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Stock rally could increase investor appetite for crypto-currencies
Normally, Bitcoin shows no correlation to traditional investments, including stocks. In recent months, several UPS and Downs of the “S&P revealed, however 500 Index”, which tracks 500 of the largest U.S. companies, the Bitcoin-Trends – albeit in varying degrees.
Yesterday, the “S&P 500″Index high reached together with the NASDAQ to a new record after the US had announced an interim agreement with China. The Dow Jones fluctuates in the vicinity of his in the past month, set ATH.
Based on the most recent correlations, this could also be for Bitcoin to be a optimistic Signal. Trump tweeted yesterday that the two largest economies in the world were about to achieve a consensus.
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The US President agreed to a limited agreement that would take back the existing customs duties on imported Goods from China. In addition, the USA will refuse the new duties, which will come next Sunday in force. In return, China has to buy, among other things, U.S. agricultural products.
Trump met yesterday with his trade advisers, and discussed possible outcomes. Elsewhere, the great victory of the Conservative party has boosted the European stock.
This upward movement could come to Bitcoin in the medium term. BTC has increased in the last 24 hours to over 0.8%, so Coinmarketcap data. Nevertheless, you can.the resistance line of a downward trend that began at the end of October, still can not break through
Back Bitcoin?
In a bearish Bitcoin scenario, investors could be attracted to traditional investments – at the cost of crypto-currencies. Investors will not want to miss the rally and will be able to invest in shares.
In addition, foreign exchange currencies including the British pound, in contrast to BTC is very volatile, which is a strong Argument for short-term Trading. All in all, Bitcoin is now at a crossroads, and the next step could determine the longer-term Trend.