Prices for bitcoin fell 6.37% to about $9,100, as the Standard & Poor’s 500 Index of large U.S. stocks lost 5.7%.
Some investors may have also sold bitcoin, still seen as a risky asset despite its 30% gain for the year to date.
Bitcoin is trading well below its price average for the past 50 and 100 days, typically a bearish signal.
The cryptocurrency fell by over 6% as stock markets across the globe cratered on renewed growth concerns and fears that a second wave of the coronavirus pandemic would wreak further economic havoc.
Bitcoin could rebound further if the stock market recovery gathers pace.

Comments to: First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns

Your email address will not be published. Required fields are marked *

Attach images - Only PNG, JPG, JPEG and GIF are supported.

Login

Welcome to Typer

Brief and amiable onboarding is the first thing a new user sees in the theme.
Join Typer
Registration is closed.