The bullish case for Bitcoin resides in the last 5 - day price action. Opposed to Gold, Bitcoin was actually able to recover and rally during continued stock market selloffs.
Bitcoin hash rate is not reacting to traditional market turmoil or coronavirus - it stays in its own lane Fire
Recently surpassing all-time highs.
Bitcoin building support around the $8,600 region. Price got interesting last week, as it nearly mirrored traditional markets during Coronavirus developments. Check out the latest below on BTC price
Despite Coronavirus outbreak and bitcoin mining facilities being shut down in China, Bitcoin hashrate still remains in tact.
Why is bitcoin not hedging the stock market then?
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Look closely.. Bitcoin market dominance recently dipped below 67%, and couldn't penetrate July 2017 highs. Now your seeing similar altcoin price action ( XRP ETH ) that fueled the massive rallies in 2017. A chart to keep on watch that few are talking about right now..