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Bitcoin showing similarities to small caps as it struggles to break $70,000, says Wolfe Research

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Bitcoin showing similarities to small caps as it struggles to break $70,000, says Wolfe Research

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for bitcoin is still good, but that the pullback phase from its recent record could drag for a while. He expressed doubt that the cryptocurrency would succeed if equities continue to struggle. All of the major stock indexes are down for the month, and the small-cap Russell 2000 is tracking for a deeper loss of about 6%. “We have a tough time seeing equities rollover and bitcoin diverging and ********* higher,” Ginsberg said. “While we still feel it makes sense to remain a bull over the long term, we simply are not seeing those same kind of compelling signals over the near term.” —CNBC’s Michael Bloom contributed reporting.





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Bitcoin,Stock markets,Markets,Breaking News: Investing,Investment strategy,Cryptocurrency,Bitcoin/USD Coin Metrics,Russell 2000 Index,business news
#Bitcoin #showing #similarities #small #caps #struggles #break #Wolfe #Research

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