Trump delays stimulus, Bitcoin dumps shortly thereafter
Bitcoin's correlation with traditional markets appears to continue.
https://cointelegraph.com/news/trump-delays-stimulus-bitcoin-dumps-in-shortly-thereafter
Quote
Back and forth discussions with regard to a second stimulus package for the people of the United States have been ongoing for months. Today, President Trump decided to push the matter back until after the 2020 presidential elections have concluded. This appears to have resulted in a price drop for Bitcoin (BTC) and other mainstream markets.
Following these tweets, the market responded in disapproval. Stocks fell noticeably, while Bitcoin dropped approximately $200 before bouncing slightly, holding a press time price of $10,577.
Bitcoin's drop seems to suggest that the asset's price continues to react in tandem with mainstream markets, at least with regard to major fiscal news. For some, this holds as antithetical to the asset's supposed role as a non-correlated store of value.
Following these tweets, the market responded in disapproval. Stocks fell noticeably, while Bitcoin dropped approximately $200 before bouncing slightly, holding a press time price of $10,577.
Bitcoin's drop seems to suggest that the asset's price continues to react in tandem with mainstream markets, at least with regard to major fiscal news. For some, this holds as antithetical to the asset's supposed role as a non-correlated store of value.