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NewsBTC 2021-08-19 17:00:59

Do COVID-19 Cases Work As A Bitcoin Trading Signal?

Bitcoin trading signals can come from anywhere. It could range from just looking at charts to looking at how people react towards the purchase of certain assets. With the pandemic sending most of the world into lockdown, COVID-19 has now made its way into being a trading signal. The movement of the market in line with the rise and fall of COVID-19 cases has shown some interesting correlations when both charts are compared. Related Reading | Bullish Signal That Resulted In A 250% Increase In Bitcoin Is Getting Triggered Again The COVID-19 pandemic has no doubt had a huge impact on every single financial market. Bitcoin has not been left out of this. The lockdowns of 2020 had markets apprehensive of impending crashes coming. And for a while, it was right. Market prices crashed as the world tried to figure out its way out of the pandemic. But once countries began to find their footing, the markets recovered in a way no one had anticipated. But a more interesting point is the price of bitcoin rallying according to flare-ups in COVID-19 cases. The times where there have been the most COVID-19 cases have also seen the price of BTC rise in tandem with it. An example of this is when Bitcoin hit a new all-time high of $64K in May. During this same time period, the world had recorded the highest number of COVID-19 cases ever since the pandemic first broke out. BTC price went up as COVID-19 cases rose | Source: Twitter As the n...

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Do COVID-19 Cases Work As A Bitcoin Trading Signal?

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