Veröffentlicht: 27.04.2020

Bitcoin rushes to the USD 8000 mark

BTC maintains strong level

The No.1 crypto currency gets off to a good start in the new week. Now the $8000 mark is moving into the bulls’ view. The impending halving and a rising correlation to the traditional markets could fuel the “digital gold” in the next bull run. We take a look at the current market situation.

Bitcoin price in detail

At the time of writing, the BTC is quoted at USD 7707, a daily gain of 1.31%. At the start of the week, investors turned their attention to Wall Street and the major stock indices recorded a solid day. The Down Jones Industrial climbed by about 1 %, the DAX rose by about 3.1 % to 10659 points. For Bitcoin, the stabilization phase of the major stock exchanges is coming at just the right time. However, one should not take this trend for granted.

Correlation not necessarily meaningful

Time and again, the media report on the increasing correlation between the traditional markets and Bitcoin. After the outbreak of the coronavirus pandemic, the international markets were hit particularly hard. Wall Street had to suspend trading several times and the DAX fell back to a level of 2016. Panic dominated the markets and insecure investors desperately sought safe investment options. Bitcoin could not recommend itself as a “safe haven”. With record losses, the crypto currency slammed below the USD 4000 mark. The high volatility acted as a kind of lever during the crisis. However, it was a double-edged sword, as the Bitcoin was able to pull itself out of the misery all the faster.

It could look different with the dump

The current observations relate to a rising stock and crypto market. Obviously, the correlation between these two trading places has increased in the past weeks. However, this trend should be treated with caution, as we do not know what the situation would be like if there were a new dump. At the moment, the volatility in the crypto space is kept within limits and the BTC is oscillating in a manageable range. However, with a market capitalization of “only” around USD 141 billion, Bitcoin could quickly become the plaything of the major markets. On the other hand, there are many factors that speak for a sustained bull run, especially now. The most important of these is the third BTC Halving Event.


The halving event is approaching and the expectations of many investors are rising. Search queries for the term “Bitcoin Halving” are at an absolute record level. The hype is noticeable. Halving the Coin Rewards could change a lot. Again and again experts mention the inflation rate, which will fall to a value of less than 2%. In difficult times, investors look for safe investment options. Bitcoin is making its way into the mainstream step by step. If the cops can keep control, a rapid leap into the five-digit US dollar range would be quite realistic. This would be an optimal starting position before the upcoming BTC Halving Event in about 14 days.

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