Bitcoin Resembles Gold Not Stock Market & Gold has Already Bottomed: Weiss Ratings

2019-1-18 22:44

What’s exactly the correlation between Bitcoin and the stock market and gold? Martin D. Weiss of Weiss Ratings talks about just that in his latest blog. Weiss discusses the scenario of a decline in the stock market to be expected to begin in April and its effect on the crypto market.

Cryptos Are A Risk-On Asset

Taking a look at the historical market patterns, it can be easily pointed out that the price movement in Bitcoin is highly correlated to those of altcoins.

For the past nine years, since Bitcoin first came into existence, S&P 500 had been in a bull market. So, there's nothing to compare here which brings forth the facts that there is no correlation,

“Whether looking at the daily, weekly or monthly fluctuations, there’s virtually zero statistical correlation between stocks and crypto.”

Moving on to the part that is most concerning is the “risk-on” category involving stocks and speculative real estate that Bitcoin and cryptocurrencies are put into. This raises a crucial question which is when stock portfolios sink in a bear market, will these investors sell cryptocurrencies as well that they associate with risk.

As stocks fall, will this put pressure on crypto prices as well? Weiss questions that with “investors waking up one morning and saying:

“Oops! Big losses in my stocks! I’ll sell my crypto to raise the cash.”

Bitcoin Resembles Gold & It Has Already Bottomed

Bitcoin might not have a correlation with the stock market but it does have with another commodity. If we are looking for similarities, it’s with gold. Bitcoin could be very well the “digital gold” and “gold 2.0,” as its primary use case is becoming that of a store of value. Better yet, “It cannot be confiscated by any government.”

Talking about the important resemblance to gold, he notes,

“At major market highs, both Bitcoin and gold make sharp U-turns. We call them “pinpoint tops.” and at major market lows, both Bitcoin and gold form long bottoming patterns. We call them “rounded bottoms.”

Last year, in August, “gold hit bottom” and is now in a new 3-year cycle with its upswing in early stages. Gold is expected to surge through $1,400-per-ounce zone with a good chance of hitting its all-time high around $2000 level.

“Bitcoin is not far behind. The charts tell us it’s currently still in a bear market, but improving fundamentals tell us a new bull market is in the making.”

Weiss points out that advanced cryptos like TRON and EOS have already “enjoyed a surge in usage”. Moreover, altcoins with a big market cap like Ethereum and XRP have “shown signs of escaping the bear.” Not to forget the most important fact that,

“Distributed Ledger Technology continues to advance by leaps and bounds.”

Weiss concludes by stating that investors should not detract by the bear market in stocks. But advises until Bitcoin signals that its bear market is over, “prudence dictates caution”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market weiss stock gold ratings bitcoin begin

market weiss → Результатов: 23


Weiss Ratings: Платежные сети вроде XRP превзойдут BTC по капитализации

Аналитики рейтингового агентства Weiss Ratings выразили мнение, что в ближайшие годы цифровой актив XRP превзойдет первую криптовалюту по рыночной капитализации. Payment networks tend to have a higher value to society than stores of value.

2019-1-9 21:28


Weiss Ratings: XRP превзойдет биткоин по рыночной капитализации

Аналитики рейтингового агентства Weiss Ratings выразили мнение, что в ближайшие годы цифровой актив XRP превзойдет первую криптовалюту по рыночной капитализации. Payment networks tend to have a higher value to society than stores of value.

2019-1-8 21:05


Weiss Ratings: биткоин все чаще будут использовать как средство накопления

«2017 был отличным годом для криптоинвесторов. 2018 год был катастрофой с точки зрения снижения рыночной цены. Теперь, что насчет 2019 года?», — пишет финансовое рейтинговое агентство Weiss Ratings.

2019-1-6 14:04


В Weiss Ratings озвучили прогноз по цене биткоина

В финансовом рейтинговом агентстве Weiss Ratings считают, что медвежий рынок 2018 года выбил из игры «слабую руку», позволил экспертам объявить биткоин мертвым, и теперь первая криптовалюта начнет движение к новым ценовым максимумам.

2019-1-6 12:27


Bitcoin could touch ATH again in 2019: according to weiss ratings

The Bitcoin-like coin Litecoin has surged over 10% in the last couple of days. This surge is being attributed to the fact that Litecoin’s Lightning Network went over 100 nodes recently. The Litecoin is seeing double-digit gains in the market because its lightning network has just crossed over 100 nodes and is expected to be The post Bitcoin could touch ATH again in 2019: according to weiss ratings appeared first on ItsBlockchain.

2019-1-6 11:55


‘XRP to Become world’s No. 1 Cryptocurrency, Bitcoin heading for new all-time highs’: Weiss Ratings Makes Heavy Predictions for 2019

Although the space has been mired in a long bear market, Weiss Ratings just came out with their predictions for 2019 and it’s looking extremely optimistic for crypto holders. The predictions are based on several criteria including market trends, but also expected forward leaps in technology and adoption.

2019-1-5 01:01


Weiss Ratings Shares New Crypto 2019 Forecasts: Bitcoin To $20,000+ USD, XRP Could Go Number 1

Weiss Ratings Publishes New Forecasts For What The Crypto Community Will Expect For 2019 The cryptocurrency industry has seen a wild two years of activity. During 2017, the industry saw Bitcoin get incredibly close to the $20,000 market, and the altcoins managed thrive at the same time. However, the subsequent year was a roller coaster […]

2019-1-4 02:48


Фото:

Cryptocurrency Adoption Increasing As Real-world Transactions Continue to Grow Rapidly Says Weiss Analyst

With only a couple of weeks to go before the year ends, it is probably safe to say by now that 2018 has not been a good year for the cryptocurrency market. The total market valuation, which peaked at more than $800 billion in January this year, is now down to a little over a […] Cryptocurrency Adoption Increasing As Real-world Transactions Continue to Grow Rapidly Says Weiss Analyst was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-12-17 20:14


Weiss Crypto Ratings Gives Positive Comments About Stellar Lumens (XLM) And XRP (Ripple)

Weiss Ratings Gives Positive Comments About Stellar Lumens And XRP XRP and Stellar Lumens (XLM) have received positive comments from the independent rating agency Weiss Ratings. The company said that amid a bear market in the cryptocurrency world, XLM and XRP register smaller losses, which is something that shows their strength. Indeed, during the last […]

2018-11-17 19:42