Stocks Down, Bitcoin Up – Trustnodes

Stocks Down, Bitcoin Up

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Bitcoin, eth, crypto prices, October 2020

Stocks are down today with Dow Jones down by 0.3% while Footsie has fallen by 0.6%.

Thats following a stalemate on the stimulus bill with Democrats setting Tuesday as a deadline for a vote, while the Republican-controlled Senate has signaled opposition to a large bill.

The British Pound is up however after Boris Johnson softened on negotiations following Macron’s statement that UK needs Europe more.

While crude oil is sidewaying at $42 amid uncertainty following potential new restrictions as winter brings new cases.

But gold has been slightly recovering, and more importantly, even though stocks are down, bitcoin and ethereum are up today.

Interestingly it may well be that bitcoin is leading as eth has given some ground slightly on the ratio, although both are up with eth nearing $385 while bitcoin has touched $11,800.

Whether it will pass that $12,000 formidable resistance, remains to be seen, but what may be more indicative is the fact that since Black Thursday in March, bitcoin has kind of been following stocks until now.

Suddenly, at least for today, this appears to have changed with it not too clear why, but bitcoin has had developments of its own that may lead to a new relationship with stocks.

Chiefly, the arrival of institutional investors, including the Rothschilds themselves, is the main theme.

Concurrently, we suspect certain states have developed a bitcoin strategy to freely trade internationally without going through banks or other jurisdictions, bypassing the United State’s grip on global transfers.

Both are very big themes and quite interrelated, with ethereum adding to the optimistic sentiment by finally being ready to begin the upgrade to ethereum 2.0.

In combination these and other factors appear to have led to a decoupling whereby bitcoin rises even as stocks fall slightly.

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