Bitcoin could be at a major turning point in its lifecycle, but the risk hanging over the global markets may get in the way. According to the VIX, a measure of anticipated market volatility has been elevated all throughout 2020 to the highest point since the Great Recession.
The metric could lose a key support level that would let high-risk assets like Bitcoin, stocks, and other crypto assets to fly. If support holds, however, things could get extremely dangerous leading into the 2020 presidential election.
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Markets have been irrational ever since stimulus efforts began pumping the money supply. The stock market went from the worst collapse in years, to one of the greatest rallies on record.
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Bitcoin crashed from $10,000 to $4,000, and is already back well above the critical resistance