Yes agreed. False hope for Bitcoin bulls I think but we'll see how it goes.mlawson71 wrote: Sun Dec 30, 2018 1:47 am It's consolidating around $4,000 but I doubt it will rally further by the end of the year.
BTC Price Makes Another Run At $4,000 While S&P 500 And Dow Start A Downturn
The entire crypto market but especially Bitcoin made a bold leap towards new highs after getting rid of the massive sell-off pressure and in the latest bitcoin news, we can see that S&P 500, Dow Jones Industrial Average and others started declining.
Bitcoin has been hovering near the $3,600 level during the day after it slipped below $3,567 just last night. However, just a few moments ago the BTC price spiked by more than $200 and took the number one cryptocurrency to $3,861 in just a few seconds.
Other cryptocurrencies mimicked the motions that Bitcoin did and Ripple, in particular, grew to $0.365. Ethereum also increased to $127 so now the entire crypto market is targeting the $128.4 billion level which is an increase by $8 billion or 6.7 percent.
As with any rally that happens on the market, the reasons behind this one are also not entirely clear. However, bitcoin futures expire today on CME so it is possible that one of the many factors could be this one since volatility often shows up after the expiration of crypto futures contracts.
While the crypto market is not entirely related to traditional equities, the Bitcoin price movement upwards happened at the same time as the stock market began going south.
Both S&P 500 and Dow record notable drops in the past couple of hours which clearly means they erased all the pre-market gains. At press time, Dow is down by 0.37 percent and S&P 500 is down by 0.28 percent. Nasdaq also showed a 0.42 percent drop.
Source: https://www.dcforecasts.com/btc-price-m ... -downturn/
