Weiss Ratings, who analyzes the financial markets, states that Bitcoin should end its tight correlation with stocks to reach the all-time high of $ 20,000.
— Weiss Crypto Ratings (@WeissCrypto) June 22, 2020
Required Condition For Bitcoin To Break 20 Thousand Dollars
Weiss Crypto Ratings, the unit of Weiss Ratings, which analyzes cryptocurrencies, follows major trends and events in the cryptocurrency industry. Weiss Crypto Ratings claims that if Bitcoin leaves its stocks, it can see the all-time high of $ 20,000. Weiss Crypto Ratings’ explanation is as follows:
Bitcoin needs to be Separated from Stocks.
Weiss Crypto Ratings’ team has addressed an issue that the crypto community has been discussing from time to time since the massive Bitcoin liquidation that took place on March 12, known as Black Thursday. This issue is the tight correlation of Bitcoin with traditional stocks. Weiss Crypto Ratings suggests that Bitcoin must separate from stocks to break $ 20,000.
Since the Black Thursday incident on 12 March, analysts’ views on the Bitcoin market have been split into two poles. Some analysts and experts believe that Bitcoin and stock charts follow the same bullish and bearish trends. Others believe that Bitcoin is not tied to the stock market. The BitMEX study, published in late March, revealed that the relationship between Bitcoin and stocks has reached a new ATH.