• Bitcoin is exhibiting a good level of bullishness above $11k
• However, Bitcoin’s correlation to stocks and gold could be a bad thing with the US elections two weeks away
• A drop in the stock market and/or gold could mean a similar fate for Bitcoin in the short term
The end of the weekend is once again upon us and so is Bitcoin’s weekly close. The King of Crypto has once again held its own in the markets and a close above $11,200 would be a good sign that the narrative of Bitcoin as a store of value is still intact.
Bitcoin (BTC) Could Be Pulled Down By Weakening Stocks and Gold
However, 2020 still has one mega event for Bitcoin in the form of the US elections on the 3rd of November. This means that Bitcoin could be in for a very volatile two weeks based on its correlation to the traditional markets and gold. Read from source….