The S&P 500 just closed its strongest weekly performance against the Nasdaq Composite in the last four years in what analysts are calling a “Great Rotation.” The trend of shuffling capital closely resembles what’s taking place across the crypto market with Bitcoin and altcoins.
Is this “Great Rotation” essentially the stock market’s version of alt season? And what are the factors driving this interesting investment phenomenon?
S&P 500 Beats Nasdaq Composite For First Time In Four Years In “Great Rotation”
This week there’s been a shakeup in the stock market, but it wasn’t the result of a selloff. Instead, the regular tech stock over-performance has taken a backseat, allowing other stocks and indices to shine as a result.
The US tech industry has kept up the strongest growth out most other categories, reflected in the tech-heavy Nasdaq Composite regularly beating the S&P 500 and the Dow.
After the Black Thursday market collapse, all major US indices fell to deep lows, but only the Nasdaq has since broken its previous record. The rise was primarily driven by individual tech stocks reaching new all-time highs, such as Amazon and Apple.
RELATED READING | HOW BITCOIN OUTPERFORMED BOTH THE S&P 500 AND NASDAQ IN FIRST HALF 2020
But there’s since been profit-taking and a slow shift in the trend. This week, the S&P 500 closed with its first weekly outperformance over the Nasdaq composite in four years.
Quincy Krosby, chief market strategist at Prudential, told MarketWatch although it’s not clear, investors could be taking profit and moving capital into other stocks they believe have more room for growth. Analysts call this phenomenon a “Great Rotation.”
Rotating Capital From Bitcoin to Altcoins Leaves Room For Alt Season To Begin
The primary market mover suddenly showing stagnancy and underperformance next to other indices that have underperformed over the last four years sounds eerily familiar.
In the crypto market, the same sort of trend is taking place. The market over-performer, Bitcoin, is suddenly trading sideways after a strong rise from Black Thursday lows.
Savvy investors who bought low, are now selling high and looking for assets with more room to run. This closely mimics the sentiment and price action taking place across the stock market. It also explains why there’s a sudden interest once again in altcoins.
RELATED READING | THE WORLD’S WEALTHIEST ARE DUMPING STOCKS, HOW THIS CAN IMPACT BITCOIN
Many altcoins remain down from their former highs by 90% or more. Bitcoin, however, is nearly halfway to its former record. Investors are recognizing that not only do they have BTC profits to take, but that moving that capital into altcoins could provide greater a return.
Just like the Nasdaq and tech stocks suddenly leaving more wiggle room for the S&P 500 to surge, Bitcoin’s sideways allows altcoins to shine.
Until either Bitcoin or tech stocks – two asset types that have shown a close correlation in the past – begin to set new highs, interest may remain high in these alternative investment choices.
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Last week, XRP saw its first large bout of bullish price action in over a month. Following the lead of a swath of other altcoins, the prominent cryptocurrency spiked by approximately 10% in a single day, passing the crucial resistance of $0.
During the last few years, the Google-owned Youtube platform has been accused of massive censorship and in the last three months, the video streaming business resembles the Ministry of Propaganda, more than an online video-sharing platform.
On April 30, the Bitcoin (BTC) price created a bearish candlestick with a very long upper wick that closely resembles a shooting star. This is considered a bearish reversal pattern. The candle was created with more volume than the preceding bullish engulfing one.
The Bitcoin price reached a low of $3,850 on March 13 and has been increasing since. The shape of the movement resembles a Wyckoff distribution chart. Full-time trader @TraderX0X0 tweeted a Wyckoff distribution chart that he believes will serve as an accurate predictor for the BTC price movement in the medium-term.
On March 20, the BTC price reached a high of $6,900. Since then, it has been mostly trading in a range between $6,100-$6,900, with the exception of a failed breakdown attempt on March 27. On April 2, the price initiated a rapid upward move and reached a high of $7,192, however, the higher prices could […]
The post Bitcoin’s Price Action Resembles a Bearish Wyckoff Distribution appeared first on BeInCrypto.
Last night, following a bullish weekly close and an even more bullish monthly candle close just days prior, the recent rally in Bitcoin price may have finally topped out. According to the Wyckoff method, the recent price action closely matches an aggressive redistribution model that suggests a severe mark down phase could follow.
The price chart of the current altcoin market closely resembles that of the early Bitcoin price chart and could signal that whoever is buying the current dip across the crypto market could end up generating life-changing wealth from their investment.
Bitcoin’s open-source code, at least its latest committed version, may be kept in a Svalbard vault, joining other projects in the GitHub Arctic Vault project. Satoshi’s Protocol Delivered to Svalbard Vault Bitcoin’s protocol, being an open-source project, is eligible to join thousands of other GitHub repositories in deep storage.
The past few months haven’t been kind to Bitcoin bulls. Since peaking in June, the cryptocurrency’s price has fallen from $14,000 to the $7,700 low set last week. While the macro backdrop is evidently different, as are the fundamentals of the cryptocurrency market, many analysts have argued that the recent collapse in the Bitcoin price.
Much of the crypto market may have flipped sentiment to being bearish on Bitcoin after yesterday’s dump that bled out over $20 billion from the total crypto market cap. However, according to one of the most respected crypto analysts in the space, an important trend indicator suggests that the current price action very closely resembles.
Samourai, a Bitcoin privacy wallet, came out last Thursday and announced that Wasabi Wallet, it’s the biggest competitor, is the target of an ongoing network attack. The announcement by Samourai becomes the latest in a string of allegations the wallet provider has put out against their competitor.
To most in the cryptocurrency community, Bitcoin (BTC) is a paradigm-shifting asset with unlimited potential. But to Warren Buffett, one of the world’s most well-respected investors, it is something with little-to-zero intrinsic value, and resembles “rat poison” more than it does shares in his favorite companies: Coca-Cola, Dairy Queen, or GEICO.
Holding cryptocurrency can be exhilarating, yet absolutely depressing. Luckily, a website automatically transmogrifies Bitcoin activity into soft, soothing sounds to help you relax through its ups-and-downs.
Despite the possible reversal of the trend, more and more analysts are moving from bear to bull team. They find more and more evidence for the growth of the Corn. One of them looks paradoxical – that the Corn growth because of XRP.
Current Bitcoin Market Resembles Industry In 2016 Before The $20,000 Bull Run, Messari CEO Affirms Everybody is hyped in the crypto industry this week. The price of Bitcoin was finally able to push forward the $4,200 USD barrier and it has grown fast to the $5,000 USD base price, in which the token is right […]
Thousands in the broader crypto industry turned bullish on Tuesday morning as Bitcoin (BTC) rapidly surmounted $5,000, in what some have called a “black swan event” — an occurrence that is unpredictable but has dramatic ramifications on its surroundings.
Coinbase is the most popular U. S. -based cryptocurrency exchange. The company boasts more accounts than the likes of Charles Schwab. Coinbase CEO Brian Armstrong has the ambitious goal for Coinbase to become the “Google of crypto,” suggesting that its relevance to Web 3.
Amun AG, a startup focused on crypto investments, has pulled in $4 million to develop secure and easy channels of crypto asset trading and management for crypto investors. With this move, the startup is looking to provide an alternative that resembles the stock market, as reported by TechCrunch on March 11, 2019.
Since Bitcoin (BTC) gained traction in the mainstream media, many skeptics and economists have claimed that the cryptocurrency space resembles the Dotcom boom and bust, but that the latter part of that equation has yet to play out in full.
Russia’s President Vladimir Putin has instructed his country’s government to adopt federal laws relating to cryptocurrency by July this year. Russia has earlier broadened the definition of “digital financial assets” to include cryptocurrencies.
Russia’s President Vladimir Putin has instructed his country’s government to adopt federal laws relating to cryptocurrency by July this year. Russia has earlier broadened the definition of “digital financial assets” to include cryptocurrencies.
Since Bitcoin (BTC) gained traction in the mainstream media, many skeptics and economists have claimed that the cryptocurrency space resembles the Dotcom boom and bust at the turn of the millennia.
Crypto Analyst: Bitcoin Chart Resembles $20,000 Top Bitcoin Bravado trader, Jack “Sparrow,” recently took to his Twitter page to tout a recent bit of analysis he completed that could indicate that the broader crypto market is finally nearing a bottom.
Bitcoin users may, before long, be able to benefit from a trick called “Taproot. ” First proposed by Bitcoin Core contributor and former Blockstream CTO Gregory Maxwell, Taproot would expand on Bitcoin’s smart contract flexibility, while offering more privacy in doing so.
What’s exactly the correlation between Bitcoin and the stock market and gold? Martin D. Weiss of Weiss Ratings talks about just that in his latest blog. Weiss discusses the scenario of a decline in the stock market to be expected to begin in April and its effect on the crypto market. Cryptos Are A Risk-On […]
Jackson Palmer, the creator of Dogecoin, criticized the aspirations of many crypto enthusiasts who are waiting for large institutional organizations to enter the cryptocurrency market. According to him, their appearance will deprive the cryptocurrency world of its main advantage.
Software developer Paul Sztorc revealed on Sept. 24 the launch of his first iteration of Drivechain, a sidechain concept that enables a cross-chain consensus validation system based on the proxies of miners.
On the latest episode of Epicenter Bitcoin, our hosts interviewed Jake Brukhman, the founder and managing director of Coinfund, as well as his chief alchemist Aleksandr Bulkin.
Some time ago on the Blockchain Cruise, Charlie Lee and Roger Ver had a very interesting talk about cryptocurrencies, scaling solutions and the cryptocurrency world in general. During the conversation, Charlie Lee defended the developments that are being done on the Lightning Network while Roger Ver defended Bitcoin Cash (BCH). Roger Ver is an important […]
A team of Bitcoin Cash (BCH) developers has released a new BCH desktop wallet that resembles the ethereum-light client Metamask. The new beta version Chrome extension wallet called Badgerwallet. cash can be tested in the browser’s developer mode and soon will be able to hold BCH-issued tokens.
Based on blockchain technology, most cryptocurrencies have an open and public ledger of transactions. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited.
Buying cryptocurrency in Russia these days increasingly means parting with fiat cash, be it Russian rubles or American dollars. According to numbers quoted by local media, the 24-hour market turnover, just in Moscow, reaches a staggering $50 million dollars on peak days.
Archaeologists are arguing that a pre-modern stone money used by Micronesian islanders resembles a precursor to bitcoin and distributed ledger technology. Also Read: Largest Cannabis Community Market in Israel to Accept Bitcoin Payments Archaeologists Highlight Similarities Between Micronesian Stone Money and Bitcoin Scott Fitzpatrick, an archaeologist at the University of Oregon in Eugene, has argued that […]
The post Archaeologists Argue Micronesian Stone Money Comprises Bitcoin Predecessor appeared first on Bitcoin News.
Reality TV star Kim Kardashian West showed appreciation for the most popular cryptocurrency during a charity poker game in LA. She tweeted pictures of what resembles physical Bitcoin tokens, one of which was given by Matthew Roszak.
For many, the complex nature of crypto investing is an unsolvable enigma. Despite the potential for great returns, many are hesitant to jump in and navigate the complexities and uncertainties inherent in this space.
Ran into this article over the weekend. The piece was extremely well written and resembles a lot of the stuff being published today. Though in retrospect, I think the question posed in the headline has been answered with a resounding affirmative.
Coinbase continues to grow with their new high-end investment product Coinbase Custody, while Binance had to run a system update following some issues with its Syscoin wallet API.
Ripple is staring down the barrel of yet another securities lawsuit — its third one this year. Filed in the Superior Court of the State of California in San Mateo County, the class action alleges that Ripple and its team illegally sold and promoted XRP, Ripple’s currency, as an unregistered security.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
