Bitcoin Shatters Its Correlation to Gold as It Tanks Alongside Equities

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Bitcoin’s price has been facing immense sell-side pressure throughout the past couple of days This has mainly resulted from the revelation of multiple bear-favoring news events These events – including the BitMEX imbroglio and President Trump’s health – have led many analysts to expect it to see significantly further downside in the days and weeks ahead They have also caused Bitcoin to break its former correlation with gold and begin, once again, moving in sync with the stock market This trend, should it persist, could hamper Bitcoin and the aggregated crypto market’s growth for the days, weeks, and months ahead Bitcoin and the aggregated crypto market were struck a lethal blow overnight when stock futures plunged due to news of President Trump being infected with the lethal virus. That being said, the cryptocurrency has been surprisingly resilient in the face of this bearish news, with bulls being able to stop…

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