Eerily Accurate Trader Says the S&P 500 Is on Thin Ice, and That’s Bad for Crypto

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After remarkable rallies from the lows, both crypto and the stock market have reversed over the past few days. Bitcoin has shed 9% from the local highs while the stock market has tumbled 5%, responding to a crash in the demand for oil, which resulted in barrels temporarily trading negative on April 20th. With this tepid price action, fears are once again mounting that global markets are ready to tumble lower once again. Unfortunately, crypto assets are unlikely to benefit from such a move; in fact, they’re likely to fall with everything else. S&P 500 Ready For Another Leg Lower In March, the S&P 500 saw one of its worst crashes ever, tumbling nearly 40% from its all-time high in the span of a few weeks. It was a move that shocked investors, resulting in many hedge funds losing capital at a rapid clip. Bitcoin and the crypto market followed…

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