4 signs that $76.7K Bitcoin is probably the ultimate low
Bitcoin’s correction may be over, supported by derivatives markets, a weak dollar and contagion from the US budget crisis.
Bitcoin (BTC) dropped to a four-month low of $76,700 on March 11, following a 6% weekly decline in the S&P 500 index.
The stock market correction pushed the index to its lowest level in six months as investors priced in higher odds of a global economic downturn.
Despite Bitcoin’s 30% drop from its all-time high of $109,350, four key indicators suggest that the correction may be over.