Strong NYSE Composite, Dow Jones May Give Bitcoin a Boost Into 2020

As Bitcoin (BTC) has floundered over the past few months, falling by 50% from $14,000 to $7,300, American equities have been performing rather well. Earlier this week, the S&P 500 set an all-time high at 3,150, and the index has gained some 25% in the past year alone — likely one of the strongest years on record for the stock market. These gains have been reflected across the American stock market, meaning for the Dow Jones and the NYSE Composite indices as well, but not for Bitcoin and cryptocurrencies.

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But it may be about to get better. SentimenTrader, a popular stock market analysis firm mentioned by Bloomberg and the Financial Times, recently noted that the monthly Moving Average Convergence Divergence (MACD) indicators for the Dow Jones and the NYSE have turned positive for the first time in over a year. This, they claim, is “bullish “for stocks on a longer term basis,” as historical precedent…