{"id":469659,"date":"2021-08-19T17:00:59","date_gmt":"2021-08-19T17:00:59","guid":{"rendered":"https:\/\/ktsl888.com\/?p=469659"},"modified":"2024-06-11T09:08:19","modified_gmt":"2024-06-11T09:08:19","slug":"covid-19-as-a-bitcoin-trading-signal","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/covid-19-as-a-bitcoin-trading-signal\/","title":{"rendered":"Do COVID-19 Cases Work As A Bitcoin Trading Signal?"},"content":{"rendered":"
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.<\/p>\n
Related Reading |\u00a0Bullish Signal That Resulted In A 250% Increase In Bitcoin Is Getting Triggered Again<\/a><\/em><\/strong><\/p>\n 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.<\/p>\n 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.<\/p>\n <\/p>\n As the number of cases began to die down, so did the price of BTC begin its downtrend. This lasted for a couple of months following May when COVID-19 cases had begun to decline. The price of BTC hit its lowest point in a two-month period following COVID-19 cases hitting a low point in June.<\/p>\n While Bitcoin price remained low for most of June and July, August has seen a bull rally that has sent the price of the digital asset skyrocketing again. This is attributed to mounting buy sentiment in the market. Although a comparison with the chart of COVID-19 cases shows conspicuous similarities in both charts. Number of COVID-19 cases had also begun to climb at this point. A new strain had emerged in India<\/a> that had ravaged the country. This was the reason why Ethereum co-founder Vitalik Buterin had sent over $1 billion in donations to an Indian COVID relief fund.<\/p>\n Related Reading |\u00a0Hot Bitcoin Summer. But Why Altcoins Are On The Rebound<\/a><\/strong><\/em><\/p>\nBTC price went up as COVID-19 cases rose | Source: Twitter<\/a><\/pre>\n
Bitcoin Keeps Climbing With COVID-19 Cases<\/h2>\n