• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
bitcoin fed meeting gold dow
Nexo

Gold Spikes While Dow Drops 500 Points Following Fed Meeting; How Will Bitcoin Respond?

Tony Spilotro by Tony Spilotro
10 months ago
in Bitcoin
0

After yesterday’s Federal Reserve meeting, markets have gone haywire once again, restarting the insane volatility first triggered following Black Thursday. Moments after the dust settled on the meeting, gold prices skyrocketed, and the Dow opened today 900 points down from yesterday’s close. However, Bitcoin has remained relatively stable.  

Will Bitcoin soon follow and join in the explosive market volatility?

Cryptocurrency’s Notorious Volatility Has Dried Up Compared to Traditional Markets

A strong correlation to the stock market brought Bitcoin to its knees as massive selloff crushed all financial assets around mid-March.

Since then, Bitcoin price has been on a steady incline, which only recently appears to be fading. The slow and steady ascent is unusual for the notoriously volatile asset class of cryptocurrencies.

These assets often ebb and flow 20% or more intraday, but recently, cryptocurrencies like Bitcoin have been trading sideways.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

RELATED READING | FADING BITCOIN VOLATILITY VERSUS NASDAQ MAY SIGNAL BULL MARKET IS HERE

The first-ever cryptocurrency’s relative volatility compared to the Nasdaq composite index has reached historic lows, not seen since before the last bull market began.

The current price action could be consolidation before a bigger move up or down, and the indecision can be seen in each new candlestick close.

Although Bitcoin has been stagnant, if the asset suddenly begins following the stock market once again, volatility could soon pick up.

Bitcoin Readies Its Next Major Move While The Dow Drops and Gold Spikes on Fed News

Following yesterday’s Federal Reserve meeting, markets caught fire once again.

After announcing that no interest rate hikes are expected until 2022 at the soonest, markets immediately responded.

Gold prices rocketed by over $30 per troy ounce in minutes, while the Dow Jones Industrial Average plummeted.

The Dow and other major stock indices have made a major comeback over the last several weeks, rebounding beyond previous highs to set new records.

Robinhood retail traders have been exuberant, calling well-known investors like Warren Buffet an “idiot” for dumping his holdings.

These may be signals that a top is in in the stock market. The last time the stock market tanked, it took Bitcoin and the rest of the crypto world down with it.

Bitcoin price has continued to struggle to break above $10,000, and the spark in volatility and continued correlation with the stock market could be disastrous for the first-ever cryptocurrency.

RELATED READING | GOLD CHART SHOWS WHY BITCOIN IS THE FASTEST HORSE IN RACE AGAINST INFLATION

The one saving grace for Bitcoin could be the fact that the dollar is weakening, and the asset’s digital scarcity may help keep prices strong even during continued market chaos.

Bitcoin shares more attributes with gold, which ballooned on the news, than it does with the Dow or S&P 500. If the dollar continues to drown under the Federal Reserve’s increasing debt, Bitcoin will ultimately benefit in the long run.

In the meantime, a return to volatility is likely given this latest spike in other markets. Bitcoin won’t be too far behind.

Featured image from Shutterstock.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.