The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin. As bitcoin is considered to be the highest risk asset by Wall Street, it tends to get sold off first any time there is a bit of panic or uncertainty in the market. This time around the uncertainty is due to Trump's unexpected diagnosis.

1% drop is not the dip for Bitcoin, it randomly goes up or down by a few percents very frequently. So, it's actually not a good idea to FOMO right now, better sit and wait for an actual dip, if buying the dip is your chosen strategy.

Trump is apparently good for the stock market, and now there is a small increase for the outcome where he is no longer a POTUS after these elections, so no wonder that the market reacted negatively, and Bitcoin is following stocks for now.

Exactly, 1% is not a big price drop for Bitcoin or any other cryptocurrency.

At the moment, I don't see a big problem yet, except that the other candidate could get COVID ..  
And it would certainly be a very big problem if one of them (of course I do not wish it to anyone) would die before the election..    
Can you imagine it ?!
This could shake the economy not only of the United States but certainly of the entire world. And the prices in the markets would definitely dive as hell..

This how our "independent" from global market industry works. Anything could cause new dump here, sorry

BitMEX isn't even an exchange. You can't actually trade anything for anything there -- you just cash in BTC for fun tokens, play the games, then cash out your remaining fun tokens for BTC. It's quite different than an actual cryptocurrency exchange, and as such, it demands a different regulatory approach. Not to mention BitMEX was knowingly servicing 80,000 US customers even though it goes against their own policies (in addition to US regulations).


Yes, as we speak. He's talking about S&P futures which are open while the markets are closed. You can see the index fall at the exact time of Trump's tweet:



Same thing with BTC, except for maybe a couple minutes behind:



Weird to see you still completely in denial of reality. There's an entire world outside of the US that depends on the health of the US financial system. This includes bitcoin. If the U.S. has a bad day, bitcoin is going to have a bad day too. This is the way it is now whether anybody likes it or not.

Because of Wall Street's increasingly hefty investment in bitcoin, the two are inexorably connected, now more than ever. I've explained to you the exact connection between the two before and provided evidence that it exists but you just shun it all in order to maintain an outdated viewpoint. Why?

I know you're going to say this is just another coincidence in a long line of previous "coincidences" that tie together the stock market and BTC, and even if it was a correlation its short term and not long term, etc. But for everybody else who isn't beholden to an outdated idea this is further evidence of a paradigm shift away from bitcoin's independence from global financial markets. It's a new paradigm (that had been in the making since 2014) where the price of BTC no longer moves independently of world markets.

To quote Trump, "It is what it is."

No news of Trump getting the infection, only Melania Trump got the infection at the moment. I can count several incident in September/ October that should have dump the market so badly after the sushi hack but the dump was mild. Second Defi exit scam, Kucoin hack, Rumour on stock market dump, Bitmex refund, Salt ICO refund, They are related to daily crypto trading and could not dump the market. IMO it looks more bullish

You responded to what he said in the negative, but OK, anyway... What I really want to know is why you insist on missing the bigger point. The long-term trend of the stock market doesn't matter because that's not relevant to this discussion. What is relevant is that the president's tweet dropped stock market futures, and bitcoin immediately followed suit.


Again, you completely overlook the point to avoid having to admit you've been wrong when insisting there is no correlation between BTC and traditional markets. The point isn't about how drastic BTC moves due to the stock market, its that it does move due to the stock market.

Yeah both of them have been reported to have acquired the virus. For Ivanka, she can certainly get through this without much complications considering that she's asymptomatic, and is still fairly young to have a robust immune system. For Trump however, I have doubts once he gets it. He's old, possibly a lot of ailments and would not survive advanced stages of the virus. Or this is just a ploy to skip the next debate so that the US will not see yet another shitshow coming from Trump. For the correlation of this event to bitcoin, I see none, really, since politics is a completely different realm from cryptocurrencies. No sharp price movements have happened yet and no other news are happening on the side of the stocks either.

I don't think that this time Wall Street will allow everyone to buy cheap bitcoin! In March, the collapse of Bitcoin was not very expected! This time everyone is just thinking about it!
And it is not profitable to drop the markets before the upcoming elections...

You are already updated, I think there is no too much impact with the use of this on the cryptocurrency especially to the bitcoin, but I think we still need to monitor all the things might happen because recently there is unstable market movement of the bitcoin (well the market is volatile), also trump is already prone to the covid he goes into different places at the same time reaching different people, aside of it we need to consider the age too, but this has still impact on their country and needed to take an action because most of the rules and the instructions are came from the president.


Panic selling is not too much prefer because there is no activity yet with the market movement, also if you got a wrong prediction or move it might cause of the mistake and lose your money.