Stock futures are dropping again, suggesting Bitcoin may see another drop

2020-3-18 13:00

The U.S. stock market rebounded today following yesterday’s unprecedented selloff, with all of the major indices climbing over five percent today. This led Bitcoin and the aggregated crypto market to follow suit, with BTC and most other altcoins posting decent gains over the past 24-hours.

This ongoing rebound may be short-lived, however, as the benchmark indices’ futures seem to point to tomorrow being yet another bloody day, with the massive economic impacts of the Coronavirus beginning to mount within the U.S. as most major cities go on lock-down.

This has led analysts to note that the days ahead will also likely be rough for Bitcoin and the crypto market, with one top trader noting that BTC could soon revisit its key support at $3,800.

Stock futures decline following today’s rebound, suggesting the crypto market will soon selloff

Today the major benchmark indices all were able to climb over five percent, which allowed them to erase a portion of the massive losses seen yesterday.

Despite this climb, it doesn’t appear that the stock market is ready to begin a sustainable reversal anytime soon, as the futures market has declined nearly three percent so far – with the Dow trading down 2.5 percent while the S&P 500 and Nasdaq have both declined roughly three percent.

Image Courtesy of CNN Markets

This hasn’t seemed to phase the crypto market yet, as Bitcoin is still trading up two percent over a 24-hour period, while Ethereum and most other major altcoins have been able to post marginal gains.

A top trader claims Bitcoin likely to decline towards $3,800 in days ahead

Although crypto investors may be waiting to see how the stock market opens tomorrow before making any trading decisions, it is highly probable that BTC will continue tracking the traditional markets for the time being.

This has led Satoshi Flipper – a top crypto trader with a track record of accuracy – to tell his followers that he believes BTC could be positioned to make a sharp movement to $3,800 in the near-term.

“Taking this BTC short because the setup is too good and it’s a good hedge against my spot altcoin long positions. Shorting the resistance trend line of this bearish pennant that has formed now (sym triangle).”

Image Courtesy of Satoshi Flipper

This potential decline would cause the entire crypto market to selloff in tandem with BTC, meaning that a further extension of the market’s intense downtrend could be imminent.

The post Stock futures are dropping again, suggesting Bitcoin may see another drop appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TodayCoin (TODAY) на Currencies.ru

$ 0.00039323 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 999999
Доступно / Всего 0 TODAY

today stock market bitcoin gains decent aggregated

today stock → Результатов: 126


Аналитик Plan B по-прежнему уверен в биткоине по $100 000 в конце 2021 года

Популярный в Twitter аналитик Plan B твердо уверен, что его модель Stock to Flow (S2F) не утратила актуальность, несмотря на падение биткоина к отметкам двухмесячной давности. #bitcoin S2F chart adjusted for today’s «crash» … nothing really happened, btc still spot on S2F track pic.

2020-3-10 16:26


Robinhood’s Massive Outages Spell “Disaster,” Could Face Class Action Lawsuit

The massive outages on stock trading app Robinhood that started yesterday and continued today wasn’t because of a hack or a coding blip but stress on their infrastructure which “struggled with unprecedented load” leading to a “‘thundering herd’ effect — triggering a failure of our DNS system,” said co-founders Vlad Tenev and Baiju Bhatt in […]

2020-3-4 20:53


Фото:

How Stock Market Bubble Fears Could Fuel Crypto Investment

Crypto markets have corrected today but stock markets continue to surge despite mounting warnings of economic despair ahead. When the bubble bursts will investors turn to digital assets as a safe haven? Stocks Up Amid Virus Fears, Crypto Dumps The current scenario on Wall Street is deceptively bullish in a country where red lights are flashing all over the economic board.

2020-2-20 16:00


Blockstation ready for issuers to tokenize equity on the Jamaica Stock Exchange

Canadian firm Blockstation, today has announced that qualified issuers may now utilize its digital asset platform to conduct capital raises via tokenized IPO on the Jamaica Stock Exchange (JSE). This news is the latest milestone in Blockstation’s partnership with the JSE, one of the first exchanges to offer end-to-end support for the compliant listing, trading, […] CryptoNinjas: Blockstation ready for issuers to tokenize equity on the Jamaica Stock Exchange

2020-2-18 15:11


На швейцарской фондовой бирже запустили еще один биткоин-ETP

Управляющий активами на $60 млрд WisdomTree запустил торгуемый на бирже продукт на базе биткоина (ETP) на крупнейшей фондовой бирже Швейцарии SIX Swiss Exchange. Today, the Swiss Stock Exchange SIX welcomes Wisdomtree Europe as a New Crypto Currency ETP Issuer.

2019-12-3 16:03