Bitcoin: S&P 500 may drag BTC further down in Q4 2022
Bitcoin briefly slipped below the $19,000 mark on Monday as the S&P 500 index was down 54.85 points on Friday. The S&P 500 index fell 1.51% to reach 3,585 and it is now close to its March 2020 lows. On the other hand, Dow Jones tumbled 9% on Friday and was down 500 points in the day’s trade. The markets printed new lows in Q3, 2022 which may pave the way for another depreciating quarter. Also Read: Celsius founder withdrew $10M prior to bankruptcy filing Pseudonymous crypto analyst Cantering Clark warned investors that if the S&P 500 continues its bearish streak, Bitcoin could correct 40% from its current levels. The analyst stated that if the S&P 500 dips to 3200 to 3400 levels, Bitcoin could go down with it and touch $12,000 to $13,000. “If the S&P 500 drops down to the next major region between 3200-3400. I think the right assumption would be that crypto beta would be at least 2-3x that, which at a minimum means Bitcoin retests the ledge of...