Crypto Blog
Bitcoin’s price fell below $60,000 on Tuesday and Wednesday after posting big gains over the weekend following the Fed’s pivot to lower interest rates. The spot price briefly peeked over $65,000 before coming back down.
The Bloomberg Intelligence strategist’s argument is that the ratio of bitcoin’s price to the S&P 500 Index is looking anemic compared to recent market history. “At about 11x now, the #Bitcoin/S&P 500 peak was 15x in and this years lower high was 14x.”from the market cap of the companies that make it up, using an index divisor for all the math whizzes watching CNBC.
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