RATE Group | Stocks Print TD9 Sell Signal, Correlated Bitcoin Could Plunge in Tandem
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Stocks Print TD9 Sell Signal, Correlated Bitcoin Could Plunge in Tandem

17 Apr Stocks Print TD9 Sell Signal, Correlated Bitcoin Could Plunge in Tandem

Posted at 21:21h in Bitcoin News by

Bitcoin has been showing a tight correlation with the stock market  – the largest correlation in the asset’s young history.

A historically accurate sell signal has just triggered across three major United States stock indexes, which not only could cause another major selloff across all markets, but it could cause Bitcoin and the rest of the crypto market to plunge in tandem.

Continued Stock Market Correlation Is Dangerous for Bitcoin and Crypto

Bitcoin price is currently struggling with overhead resistance, is facing the largest stretch of extremely fearful sentiment across the crypto market ever, and still has the coronavirus and its impact on the economy to deal with.

Things are looking well for the first-ever cryptocurrency, which was expected to be trading closer to $55,000 per BTC when the asset’s halving arrives in less than 30 days.

Related Reading | Bitcoin’s Minute-By-Minute Correlation With Stock Market May Signal Disaster

Not only is Bitcoin price nowhere near that…

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