How Bitcoin Could Break to New Lows (and How It Can Avert It)

Bitcoin prices are not excluded from the recent sell-off.

As the S&P 500 works on its third consecutive weekly decline, bitcoin is trying to avert its third consecutive weekly decline.

Cryptocurrencies have been shown to trade well in anticipation of high inflation, but it was probably the correlation with high-growth stocks and risky assets that made the run higher.

Bitcoin prices exploded after the covid-19 sell-off in 2020, but have since performed as growth stocks have done.

Prices fell 75% and bottomed out in mid-June, as did many growth stocks earlier this summer. Now bitcoin is moving lower again and some investors fear a painful crypto winter is ahead.

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