Bitcoin Rises While Stocks Are Falling. It's Good News for Cryptos.
— Stocks, Good, Week, Steady, Vulnerable, Touching, Rises, Bitcoin, Falling, Tumbled — 1 min read
Bitcoin has risen less than 1% over the past 24 hours to $19,800. The largest crypto tumbled in tandem with stocks on Wednesday, but has since rebounded to levels seen earlier in the week. Bitcoin continues to struggle to consolidate above the key $20,000 mark, having rallied as high as $22,000 less than a week ago. Digital assets have shown themselves to be correlated to stocks and vulnerable to even more downside. Bitcoin and other cryptocurrencies were relatively resilient on Thursday, holding steady or rising in stark contrast to the stock market which was under pressure. That marks a departure for digital assets, which are vulnerable to more downside than they have previously shown themselves as correlated to the stocks and more downside to the downside. Source