Traders buy the Bitcoin dip even as Evergrande's implosion rocks stock markets
The Evergrande fiasco appears to be driving the correction in global stock markets, but data shows this isn't deterring pro traders from buying the BTC dip. Bitcoin (BTC) investors seem concerned about the increasing speculation that China's second-largest property developer, Evergrande Group, will default on its $300 billion in debts. These fears manifest in global equities markets which saw a 1.5% to 3% drop at this morning's market open. Despite the price move, the BTC outflow (net withdrawals) from exchanges has continued a multi-month trend, particularly on Coinbase Pro.Traders also....
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A fresh BTC price dip to $45,000 clashes with bullish forecasts across the board as Bitcoin traders lie in wait for an October rebirth. Bitcoin (BTC) starts a new week with a decidedly bearish move — but one which fails to shake investor confidence in the bull run.A mixed weekend saw BTC/USD close above $47,000, only to lose all of its previous gains to challenge $45,000 support hours later.It's a delicate situation — not just Bitcoin, but stocks and sentiment are taking a beating as the Evergrande implosion in China unravels. What could affect the cryptocurrency market? As analysts expect....
Global investors have their eyes peeled on the Evergrande Group or the Evergrande Real Estate Group, China’s second-largest property developer by sales. Evergrande Group shares nosedived on Monday dropping to 11-year lows and many analysts and economists are concerned about a possible credit contagion. Credit problems with China’s real estate industry have affected global markets a great deal as European and U.S. stocks have slid during Asia’s overnight.
Evergrande Group’s Counterparty Risk and Liquidity Shocks Could Spark a Credit Contagion on a Global....
Bitcoin's (BTC) price has climbed to 15-month highs even as coronavirus-induced instability rocks the stock markets.
Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of Evergrande Group, a China-based real estate company whose collapse could send ripples across equities markets. Data from Cointelegraph Markets Pro and TradingView shows that the early morning sell-off in Bitcoin (BTC) intensified into midday as the price dropped to a....
Attention is set to refocus on America following the Evergrande debacle as Gary Gensler talks to mainstream media. Bitcoin (BTC) bounced off $40,000 on Tuesday as attention returned to United States regulators.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$45,000 target emerges for bullsData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $43,000 Tuesday ahead of fresh comments from Gary Gensler, chair of the Securities and Exchange Commission.BTC price action steadied on the day after a fresh dip saw the first test of $40,000 support since Aug. 6.While....