Fear for Sustained Bitcoin Correction Sparks as Frantic Gold Sell-off Begins
Published by Yashu Gola
bitcoinist.com
bitcoinist.com
Bitcoinist via bitcoinist.com
Bitcoin showed first signs of withdrawing from its ongoing upsurge as its price slipped 1.50 percent a day after establishing the local top near $7,810. The intraday action also showed the first signs of a correlation-break between Bitcoin and US equities.
As it hinted to break its short-term correlation with US equities, Bitcoin reinstated one with Gold, its top safe-haven rival. Nevertheless, a drop in US equities could lead investors to liquidate their profitable positions in both Bitcoin and Gold markets to cover their losses elsewhere.
As it hinted to break its short-term correlation with US equities, Bitcoin reinstated one with Gold, its top safe-haven rival. Nevertheless, a drop in US equities could lead investors to liquidate their profitable positions in both Bitcoin and Gold markets to cover their losses elsewhere.
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