[2019-06-05] Bitcoin Holds Over $7,800 as US Stock Market Sees Minor Uptrend

[D1v4c]

https://cointelegraph.com/news/bitcoin-holds-over-7-800-as-us-stock-market-sees-minor-uptrend

Most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as Bitcoin (BTC) holds over the $7,800 mark.

Bitcoin is down over 2% on the day, trading at $7,820 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 10.6%.

Bloomberg reported yesterday that bitcoin could be currently showing signs of an incoming reversal.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.9 billion at press time.

CoinMarketCap data shows that ETH has also seen its value decrease by about 1.8% over the last 24 hours. At press time, ETH is trading around $244. On the week, the coin has also seen its value decrease about 10%.

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[rodel caling]

Based on the coin market cap price bitcoin dump their price quick down and lots of holders are scared and some of this sure they got panic, hope this trends are stop and stay the price of bitcoin at 7,600$ to 7,800$ yesterday price of bitcoin is around 76000 to 77000$ hoping price not lower than 7500$.

[Slow death]

Most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time

this week Bitcoin fell from $8700 to $7,500 and over 90% of altcoins fell, it was a big dump. When I saw the whole market in red, I was shocked because I did not expect a big price drop like this.

this: BSV surprised me, while every market was plunged into a big dump, that altcoin was rising inexplicably. Oh the crypto world is a very dangerous and manipulative place, and nobody should forget it

[NeuroticFish]

It was demonstrated that any similitude between the trend in traditional markets and crypto markets is purely accidental.
So I am not sure what they want to imply with putting both in the same news story and title...

[CryptoBry]

It was demonstrated that any similitude between the trend in traditional markets and crypto markets is purely accidental. So I am not sure what they want to imply with putting both in the same news story and title...

I am wondering the same thing. Is there really a correlation between bitcoin and the stock market of US? Will rise in the stocks mean the fall of bitcoin and vice versa? My view is that this is just coincidence and not a time-tested assumption.

[hurry_hore]

I think at this time it cannot be said that the US stock market affects the price of bitcoin because there is no strong relationship between the stock market and bitcoin except just for investment.
In addition, the factors that influence bitcoin are of course the bitcoin community itself, whether they are more in selling or buying. If it is drawn directly, the relationship between bitcoin trading and stock trading seems to be unfavorable because the bitcoin community is somewhat different from the stock community, although it can be said to be equally in terms of its investment tools.