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BTCUSD - At risk of further downside?
Binance Research found a strong correlation between Bitcoin and US equities in the early stages of 2020, and predicted the correlation would not last long. Interestingly, in recent months Bitcoin has been tied even closer to the SP500 making the digital currency vulnerable to volatility leading into the US Presidential elections. Bitcoins recovery throughout 2020 is potentially a consequence of the vast amount of money printing coming from the US, and as a result the devaluation of the USD. Traders holding US Dollars have moved money into areas that were undervalued, and Bitcoin along with the US stock market ... (full story)
