Analyst: Why is Bitcoin's trend today contrary to the US stock market
Financial website Forexlive analyst Adam Button believes that the cryptocurrency market is usually a leader in stock market sentiment, but this is not the case today. While the price of Bitcoin has dropped by 3%, the stock market is at its daily high, with the Nasdaq 100 rising by 2.5%. This divergence may be related to concerns in the cryptocurrency market about the liquidation and distribution of Mt. Gox. Nevertheless, the Nasdaq is now almost back to the closing level of July 31st. At that time, the Fed's decision caused a sharp rebound in the Nasdaq, but it was followed by a brutal global collapse. The rebound in the Nasdaq has been significant since last Monday, especially compared to the intraday low on August 5th, the Nasdaq has risen by 12% from that point, which is a year's worth of substantial returns for most fund managers. Part of the reason behind this rebound in trading is the emergence of artificial intelligence trading, but mainly because people have regained confidence and believe that the global economic growth situation is good
On August 16th, Jinshi Data reported that Adam Button, an analyst at the financial website Forexlive, believes that the cryptocurrency market is usually a leader in stock market sentiment, but this is not the case today. While the price of Bitcoin fell by 3%, the stock market hit a daily high, with the Nasdaq 100 rising by 2.5%. This divergence may be related to concerns in the cryptocurrency market about the liquidation and distribution of Mt. Gox. In any case, the Nasdaq is now almost back to the closing level of July 31st. At that time, the Federal Reserve's decision led to a sharp rebound in the Nasdaq, but it was followed by a brutal global collapse. The rebound in the Nasdaq since last Monday has been significant, especially compared to the intraday low on August 5th, with the Nasdaq up 12% from that point, which is a year's worth of substantial returns for most fund managers. Part of the reason behind this rebound in trading is the emergence of artificial intelligence trading, but mainly because people have regained confidence and believe that the global economic growth situation is good