With the end of the summer rally on the stock markets in the middle of the month, the recovery in crypto assets has also stalled.

These had followed the stock markets higher, this time without exaggerating too much.

Between mid-June and mid-August, the S&P 500 index rose 17 percent, and Bitcoin, the most important crypto asset with a market share of 37.5 percent, rose 20 percent.

The number two was in demand, Ethereum (market share 18 percent), whose course doubled.

A planned technical change in September should make this blockchain faster, cheaper and more energy-efficient.

Investors are hoping that this will boost financial applications, which are largely based on Ethereum, and that in turn will boost the price of the crypto asset.

Martin Hock

Editor in Business.

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When the stock markets turned around two weeks ago, Bitcoin turned with it and tested prices below $ 20,000 again last weekend.

Meanwhile, after the speech by US Federal Reserve Chairman Jerome Powell on Friday, the price loss was only 6 percent lower than expected.

Bitcoin closely followed the Nasdaq-100 technology stock index.

The crypto asset is showing resilience, wrote market analyst Ed Moya of forex specialist Oanda.

The $20,000 mark, above which Bitcoin initially traded again on Tuesday, is considered an indicator that investor sentiment will not deteriorate further.

However, Tuesday once again impressively demonstrated that the correlation to the stock market is high: the S&P 500 had barely slipped below the 4000 point mark when the $20,000 for Bitcoin was vinegar.

The daily price swings have also become smaller.

This can be a sign that a bottom could be reached soon.

However, with a view to September, options for hedging at $ 18,000 are currently in demand.

Bitcoin had also stayed more or less long at each tens of thousands since last October on its recent slide, such as it is now around $20,000.

Crypto financial services provider Coinshares continues to see “minor outflows” from crypto assets of $46 million for the past three weeks.

The total market capitalization is currently around one trillion dollars.

Last November it was almost three trillion dollars.

Coinshares Head of Research James Butterfill sees seasonal effects as well as "persistent apathy after recent price declines".

Although capital has also flowed out of Ethereum, there is confidence with a view to the intended changeover in September, called “The Merge”.

The planned improvement will continue to attract capital and support crypto asset prices, says John Toro, chief trading officer at crypto exchange Independent Reserve. Meanwhile, Toro also sees crypto assets as a highly market-dependent asset.

In this case, even the Ethereum craze is of no use when the stock market signs are selling.