Express

Will Bitcoin Follow the Surge of Stock Markets?

Dawn Wu

Summary: The surge of stock markets last Friday may indicate a future advance for Bitcoin due to the correlation between BTC and the S&P 500 Index, according to a report from NewsBTC.

The surge of stock markets last Friday may indicate a future advance for Bitcoin due to the correlation between BTC and the S&P 500 Index, according to a report from NewsBTC.

The report expects a “higher-high” towards $14,000 for Bitcoin shortly as stocks, especially tech stocks, are on a sharp rise.

Major stock market indexes spiked up on Friday thanks to a positive latest Employment Situation Summaryreleased by the U.S. Bureau of Labor Statistics. The summary implies a recovering economy with 2.5 million cases of employment added in May. 

Per Bitpush Market Data, BTC is now trading at $9695.98. The past three days have seen the leading cryptocurrency wobbling in the zone from $9,450 to $9,750.

By Dawn Wu

Last Update:

Tags: ,,,
Link: Will Bitcoin Follow the Surge of Stock Markets?   [Copy]
Next:

Related Articles

  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 8 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 15 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 19 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 22 days ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 26 days ago

    • You need to login to comment.