{"id":449278,"date":"2020-11-10T01:00:27","date_gmt":"2020-11-10T01:00:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=449278"},"modified":"2024-06-11T13:47:30","modified_gmt":"2024-06-11T13:47:30","slug":"how-the-vaccine-news-might-change-bitcoins-attractiveness-to-institutions","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/how-the-vaccine-news-might-change-bitcoins-attractiveness-to-institutions\/","title":{"rendered":"How the Vaccine News Might Change Bitcoin’s Attractiveness to Institutions"},"content":{"rendered":"

While the economy has been on thin ice, no asset has benefitted more from the post-pandemic “new normal” than Bitcoin. Fear of the uncertainty has caused demand to rise in the insurance policy against the unknown<\/a>.<\/p>\n

But as news of a vaccine being 90% effective broke today, so potentially did Bitcoin’s uptrend. Here’s how the positive vaccine news from Pfizer might change the cryptocurrency’s attractiveness to the recent wave of institutions considering adding BTC to their portfolios.<\/p>\n

Economy Could Get Shot In The Arm With Widespread Vaccine Distribution<\/h2>\n

2020 kicked off as a year like any other with high hopes for the future. The throwback to the “roaring 20s” however, ended up being a lot more similar than anyone bargained for.<\/p>\n

The 2020s, like the 1920s, saw a pandemic of epic proportions. The Spanish Flu outbreak that started in 1918<\/a>, by 1920 had infected a third of the world’s population at the time. It killed significantly more people than the current pandemic, although we are only in the early stages of the virus and its lingering impact.<\/p>\n

Related Reading | Bitcoin Responds To Biden Victory With Rollercoaster Intraday Volatility<\/a><\/strong><\/em><\/p>\n

There was also an enormous stock market crash in the 1920s. The fear of a second-leg down like what took place back then has kept the stock market sentiment fearful despite valuations soaring.<\/p>\n

With a vaccine on the way<\/a> and the stock market never having collapsed a second time, traditional on-risk assets like stock indices, could become attractive once again, and pull capital away from safe havens like gold and Bitcoin.<\/p>\n

\"bitcoin<\/p>\n

The stock market surged to all-time highs as positive vaccine news broke. Bitcoin plummeted. | Source: BTCUSD and SPX on TradingView.com<\/a><\/pre>\n
But Could The Lack Of Uncertainty And Stimulus Cause Bitcoin To Cool Off?<\/h2>\n
While that might be difficult to imagine, as soon as the vaccine news broke, the stock market immediately shot to a new all-time high. Even the Dow Jones, which lacked a higher high since the Black Thursday, finally surged to set a new peak.<\/p>\n
At the same time, Bitcoin suffered one of the largest single-candle selloffs on the 6H BTCUSD chart. The selloff<\/a> coinciding at the exact same time that stocks went flying, suggesting that the move could be institution-driven profit taking out of safe havens, back into the stock market.<\/p>\n
Related Reading | Bitcoin Hash Ribbons Trigger Rare Bull Market Capitulation Signal<\/a><\/strong><\/em><\/p>\n
Bitcoin’s momentum has been unstoppable in 2020, but it could be due to institutions seeking to hedge against inflation, or even the unknown<\/a>.<\/p>\n
As things begin to stabilize not just in the economy, but in politics, if a vaccine does come soon that is 90% effective as Pfizer claims, Bitcoin’s use as an insurance policy against an economic crash<\/a>, could become less viable.<\/p>\n
Featured image from Deposit Photos, Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
While the economy has been on thin ice, no asset has benefitted more from the post-pandemic “new normal” than Bitcoin. Fear of the uncertainty has caused demand to rise in the insurance policy against the unknown. But as news of a vaccine being 90% effective broke today, so potentially did Bitcoin’s uptrend. Here’s how the positive vaccine news from Pfizer might change the cryptocurrency’s attractiveness to the recent wave of institutions considering adding BTC to their portfolios. Economy Could Get Shot In The Arm With Widespread Vaccine Distribution 2020 kicked off as a year like any other with high hopes for the future. The throwback to the “roaring 20s” however, ended up being a lot more similar than anyone bargained for. The 2020s, like the 1920s, saw a pandemic of epic proportions. The Spanish Flu outbreak that started in 1918, by 1920 had infected a third of the world’s population at the time. It killed significantly more people than the current pandemic, although we are only in the early stages of the virus and its lingering impact. Related Reading | Bitcoin Responds To Biden Victory With Rollercoaster Intraday Volatility There was also an enormous stock market crash in the 1920s. The fear of a second-leg down like what took place back then has kept the stock market sentiment fearful despite valuations soaring. With a vaccine on the way and the stock market never having collapsed a second time, traditional on-risk assets like stock indices, could become attractive once again, and pull capital away from safe havens like gold and Bitcoin. The stock market surged to all-time highs as positive vaccine news broke. Bitcoin plummeted. | Source: BTCUSD and SPX on TradingView.com But Could The Lack Of Uncertainty And Stimulus Cause Bitcoin To Cool Off? While that might be difficult to imagine, as soon as the vaccine news broke, the stock market immediately shot to a new all-time high. Even the Dow Jones, which lacked a higher high since the Black Thursday, finally surged to set a new peak. At the same time, Bitcoin suffered one of the largest single-candle selloffs on the 6H BTCUSD chart. The selloff coinciding at the exact same time that stocks went flying, suggesting that the move could be institution-driven profit taking out of safe havens, back into the stock market. Related Reading | Bitcoin Hash Ribbons Trigger Rare Bull Market Capitulation Signal Bitcoin’s momentum has been unstoppable in 2020, but it could be due to institutions seeking to hedge against inflation, or even the unknown. As things begin to stabilize not just in the economy, but in politics, if a vaccine does come soon that is 90% effective as Pfizer claims, Bitcoin’s use as an insurance policy against an economic crash, could become less viable. Featured image from Deposit Photos, Chart from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":449291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,82859,78790,6664,4524,83256],"class_list":["post-449278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdc","tag-btcusdt","tag-crypto","tag-xbt","tag-xbusd"],"acf":[],"yoast_head":"\nHow the Vaccine News Might Change Bitcoin's Attractiveness to Institutions<\/title>\n<meta name=\"description\" content=\"While the economy has been on thin ice, no asset has benefitted more from the post-pandemic "new normal" than Bitcoin. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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