{"id":422991,"date":"2020-05-06T21:00:15","date_gmt":"2020-05-06T21:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=422991"},"modified":"2020-05-06T20:37:26","modified_gmt":"2020-05-06T20:37:26","slug":"is-this-bitcoin-wave-fractal-following-oils-path-to-negative-pricing","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/is-this-bitcoin-wave-fractal-following-oils-path-to-negative-pricing\/","title":{"rendered":"Is This Bitcoin Wave Fractal Following Oil\u2019s Path to Negative Pricing?"},"content":{"rendered":"

Bitcoin’s halving<\/a> is only a mere seven days away, and the bulls are already out in full force.<\/p>\n

However, according to an eerily similar price fractal that preceded oil’s recent, record-breaking fall into negative territory playing out on Bitcoin price charts, the halving may have the opposite effect than people are expecting.<\/p>\n

V-Shaped Bitcoin Recovery May Be Short-Lived If Oil Fractal Plays Out<\/h2>\n
The Black Thursday market collapse crushed nearly every financial market under the sun. It rocked the stock market, precious metals, and cryptocurrencies like Bitcoin<\/a>.<\/p>\n
It left both major US stock indices and Bitcoin setting a V-shaped recovery. The possibility of a bottom pattern has restored hope across the market.<\/p>\n
Related Reading | Cryptocurrency Community Explodes In Chatter Over Oil and Stocks<\/a><\/strong><\/em><\/p>\n
The Dow Jones and the S&P 500 are both up over 30% from their bottoms. Bitcoin is once again trading at above $9,000 following a crash to $3,800.<\/p>\n
Bitcoin’s recovery may be short-lived if a price fractal from a devastating oil crash just weeks ago that has since appeared on the price charts for the first-ever cryptocurrency plays out.<\/p>\n

Epic Oil Crash Fractal Appears on BTCUSD Price Charts Ahead of Halving<\/h2>\n
Black Thursday and the coronavirus also set off a chain of events that led to a historic oil crash<\/a> that shocked the world. Oil fell into negative price territory for the first time in the asset’s history.<\/p>\n
Oil is one of the few assets that can actually fall to negative prices. This is due to the cost associated with storing<\/a> the light crude commodity.<\/p>\n
Just prior to oil’s now record-setting drop, the asset had made a V-shaped recovery. The price action closely mimics the recent rally in Bitcoin, taking the crypto asset to over $9,200.<\/p>\n
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$OIL<\/a> AND #BTC<\/a> \ud83d\udc40 pic.twitter.com\/vBi1vDH60H<\/a><\/p>\n
— \u1d00\u029f\u1d1b\ua731\u1d1b\u0280\u1d07\u1d07\u1d1b \u0299\u1d07\u1d1b\ua731 (@AltstreetBet) May 6, 2020<\/a><\/p><\/blockquote>\n