Unchained analyst says Bitcoin is fixed amid the collapse of the stock market

As the stock market decreased due to the American definitions of most of its commercial partners, Bitcoin showed some flexibility. Expert at Unchained explains the reason.

American stocks have seen some of the worst performance in years. However, Bitcoin (BTC) Joe Burnett, Market Research Director at Crypto Financial Unchained, who has shown relative flexibility, is great news for institutional investment, explains Joe Burnett, Market Research Director at Crypto Financial Unchained.

On April 4, Dow Jones Industrial Malce threw more than 2200 points, adding a decrease on Thursday of 1,679 points. This was the worst performance for two days in history, leaving many stock investors anxious during the weekend.

At the same time, I showed Bitcoin Relative flexibilityEven start recovery, already recorded 2.2 % profit in the past 24 hours. Burnett suggested that this is a repetition of the pattern of 2020, when bitcoin prices led the market.

With March 2020, Bitcoin quickly and recovered first (in front of American stocks), a pattern that is likely to be repeated today because Bitcoin has not made its lowest new levels since March 11.

Because of the high bitcoin fluctuations, Burnett said it is often the first assets to sell them when liquidity dries. However, since the sales process is usually fast and aggressive, Bitcoin is often a bottom before stocks.

This may also indicate that the arrows approach the bottom. Supporting this opinion is to scan the feelings of the investor, which has decreased to 19.11 % On March 13, the lowest level since the epidemic. This extreme negative outlook may mean that the shares are appointed unlike.

However, Burnett warned that this does not guarantee that bitcoin is out of danger.

Of course, if the shares continue to decrease strongly in the coming weeks, it is reasonable to expect that Bitcoin can test another leg down as well.