Bitcoin and S&P 500 may swoon together
March 11, 2022 Leave a comment
As a proxy and correlation for ‘risk-on’ and risk-off’ sentiment, Bitcoin is once again poised at a support level (~$38,000) worth watching.
And more so, as it remains in a medium term downtrend.
Failing to hold this near term support, Bitcoin should visit the $29,700 (+/- $250) area.
Such a 24% decline should coincide with my previous writings about a 20% decline in the S&P 500.
March 11, 2022
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 