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        Is it Bitcoin's time to shine as Bitcoin's link with stocks weakens

        CryptoRuby wrote a column · 09/27/2022 16:18
        Bitcoin has been trading in the same way as US stocks, falling when they fall and rising when they have a good day. But the two largest cryptocurrencies $Bitcoin(BTC.CC)$ and $Ethereum(ETH.CC)$ weathered Monday well despite risk assets dropping sharply HeyHeyHey. $Binance Coin(BNB.CC)$, Solana and other cryptocurrencies also advanced.
        Bitcoin's Link With Stocks Weakens; Source: Bloomberg
        Bitcoin's Link With Stocks Weakens; Source: Bloomberg
        It's unusual for crypto and equities to de-couple Thinking FaceThinking FaceThinking Face. They've moved in tandem for the majority of 2022, as policies from the Federal Reserve have weighed heavily on both asset classes. US stocks have suffered and are down more than 20% from highs reached at the start of the year. Meanwhile, Bitcoin is down some 60% in the same span.
        A lot of the players still holding crypto now are the stronger hands."
        —— said Andrew Tu, head of growth for crypto algorithmic-trading firm Efficient Frontier.
        On Sept. 26, the British pound hit a record low against the U.S. dollar DollarDollarDollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region.
        The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British pound's weakness could be a positive for Bitcoin. CoolCoolCool
        Once the general population realizes their savings and investments are being devalued more aggressively by central bank stimulus measures, the benefits of a decentralized form of money could become clear. But, for now, the U.S. dollar has been the clear winner, reaching its highest level in over 20 years compared to other major global fiat currencies. EmmEmmEmm
        Source: Bloomberg, Cointelegraph
        Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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        Crypto news and opinion. ༼ つ ◕_◕ ༽つ Crypto enthusiastic (Not a financial advisor)