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E-money exchange rating

CEO of Hilexbit linked bitcoin’s fall to the crash of stock markets

11

The CEO of the cryptocurrency exchange Hilexbit believes that the recent collapse of bitcoin occurred because the asset correlated with falling stock indices. “

Black Thursday”, when BTC fell to a year’s minimum, once again proved the dependence of the cryptocurrency industry from traditional markets, the CoinTelegraph resource quotes the businessman.

E-money exchange rating

He emphasized:

The previous fall of bitcoin along with traditional markets was caused by the liquidity problem. People dump everything they can in any market. Soon after, liquidity was back to normal and we saw the bitcoin price recover and the correlation weakened.
As a reminder, not only cryptocurrencies, but also stock indicators updated their lows in mid-March. For example, the Dow Jones Index dropped more than 10% on March 12 alone. BTC collapsed more than 50% on March 12-13.

Hilexbit.com

E-money exchange rating
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