Bitcoin (BTC) Price Screams Buy As US Dollar, Stocks Rally
bitcoin price

Bitcoin (BTC) Price Screams Buy As US Dollar, Stocks Rally

THELOGICALINDIAN - Alls able-bodied that ends able-bodied The US banal bazaar seemed to accept followed the bulletin in spirit as it started the anniversary and concluded the ages today on a blooming agenda And speaking of blooming greenback the US dollar hit its accomplished akin back 2024 Bitcoin coinprice markets havent backward abaft either as BTC rose 4 in the aftermost 24 hours

‘Monday Green’ Not ‘Monday Blues’ For US Dollar, Stock Markets

As appear by the Financial Times, the greenback rose 0.4 percent to 99.46 on the dollar basis on Monday. This is allegedly its accomplished ascend back 2017 May. Along with this, the US dollar is able-bodied on its way to almanac a solid division achievement back Q2 2018.

The aforementioned anecdotal played out in US banal markets too, as the S&P 500, Nasdaq Composite, acquired 0.3 percent and 0.4 percent respectively, on the aftermost day of the trading month. Both arresting bazaar indices concluded up registering account assets of 1.6 percent and 0.1 percent respectively. It seems, renewed fears of an escalation in the US-China barter war didn’t avert the aplomb of traders at all.

Bitcoin Price Following US & Global Stock Market Movements?

For Fundstrat co-founder Thomas Lee the BTC and US banal markets are appealing abundant correlated. On September 25, Bitcoinist covered his attitude on the falling Bitcoin price, as he approved to annihilate fears of an addition accessible buck market.

“It’s overbought and needs to see weaker sentiment. Our (Bitcoin Misery Index) has been adage this back July… and it’s ashore time until S&P 500 ends this ‘trendless macro’ period,” Lee summarized.

“The abatement in (Bitcoin) followed the risk-off selloff in (equities),” he connected in a added tweet.

This, he added, “reinforces our ‘unpopular’ assessment bitcoin does not do able-bodied in a ‘trendless macro’ environment.”

Lee assured by saying:

It seems the alternation is happening, as both BTC and the US banal markets accept looked up, in a abrupt abnegation to an approaching political turmoil. In the accomplishments of this argument, back bitcoin is a globally traded asset, it is alone fair to analyze its assemblage to disinterestedness bazaar assets in added geographies as well.

Stoxx 600, Europe’s criterion banal basis acquaint a 0.4 percent accretion today with a account accretion of 3.3 percent in September. This is the aboriginal time the bazaar confused up in three months back June this year. Hong Kong’s Hang Seng additionally wasn’t larboard abaft as the basis afire up today with a 0.5 percent gain.

BTC Might Put In A Perfect Buy Signal

According to an accomplished all-around macro investor, and architect of D-TAP Capital, Dan Tapiero, a ‘rare bitcoin buy signal’ occurred at the $3600 amount mark in January this year, afterward which the bazaar rallied by a humongous 400% with BTC topping out at $14000.

Something agnate (buy arresting flash) is about to appear today, and it’s important to watch out for the “5 pm-close” on BTC amount archive for complete confirmation.

Do you anticipate bitcoin amount is affective out of the rut or is the accepted assemblage annihilation added than a ‘dead-cat bounce’? Please animadversion below.

Images via Bitcoinist Image Library, Twitter: @fundstrat, @DTAPCAP