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THE REAL REASON BITCOIN IS RANGING!

THE REAL REASON BITCOIN IS RANGING!

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“Bitcoin initially showed resilience by holding above $9,700 during the Asian and European trading hours. However, the sell-off in U.S. equities was too big to ignore for the crypto market traders – some of whom likely offered bitcoin on the fear that financial markets could be about to witness another round of panic like that seen in March.”

But you know what, that’s only half the story. Bitcoin wouldn’t go above $10k even when the S&P 500 rallied. So how do people who say they are correlated, explain that?

This kind of behaviour seems more like a market maker or liquidity provider type of activity, not anything rational on a traders end. This is hard to prove but, the fact that these large movements between the stock market and Bitcoin seemingly happen at exactly the same time, would suggest algorithmic trading occuring.

Disclaimer: I am not a financial adviser and this is not financial advice or Bitcoin technical analysis.

#bitcoin

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  1. Dude! You're just incredible, I thank the universe for you're existence. Don't take it too seriously though, I just find you quite an inteligent person talking about a subject I just became to kind off understand in the recent months, the most entarntaining and educative way. You Freak Out!
    KeeP it up /
    btw1, can you present us with a daily video? It kind off works for me. If it works for you…
    btw2, bitcoin is freedom indeed 🙂
    btw3, i tought you were portuguese… by your accent.

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