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Bitcoin: Another Mini-Meltdown Appears Likely
Despite its lackluster performance of late, Bitcoin is still up by roughly 55% YTD. This is compared to a gain of only about 7.5% for the S&P 500 over the same time frame. However, Bitcoin's price action appears to be closely correlated with the price action in stocks in recent months. As the election approaches and uncertainties mount, Bitcoin could see quite a bit of volatility in the weeks ahead. Intermediate and long term, we remain bullish on Bitcoin and other key blockchain enterprises. Bitcoin (BTC-USD), as well as the blockchain enterprise sector in general, has become increasingly correlated with stocks in ... (full story)
