Source: BTCUSD on TradingView.com
What is causing this sudden divergence between the two vastly different asset classes that all this year have been closely correlated, and can the major cryptocurrency by market cap keep this up?
All this combined caused major US stock indices such as the Dow Jones Industrial Average to close their worst day in the last two months. But what’s really interesting about this, is that Bitcoin has been rallying to new 2020 highs while the stock market its been connected to all throughout 2020 has been decreasing.
The leading cryptocurrency by market cap, yet again set another new high for the year now, demonstrating a strong bullish trend compared to the bearish stock exchange. Crypto analysts have been calling for a decoupling of the significance that is plagued Bitcoin throughout the year.