Analysts from Morgan Stanley, Wells Fargo, and other financial institutions have recently reported on a newly-observed correlation between bitcoin and the traditional stock market. In the past, bitcoin’s place in financial markets has been that of an asset that was completely uncorrelated with anything else. Oct 24, · BTC Shatters Correlation with the Stock Market One analytics firm noted that Bitcoin’s correlation with the stock market now sits at zero, which is a bull-favoring development. “With Bitcoin’s +% price surge this past week, its correlation to the #SP has dropped back to 0 for the first time since May on our day rolling average model. Apr 17, · In the realm of negative correlation, Bitcoin’s correlation to an index that tracks stock market volatility is headed towards new lows. Bitcoin’s ratio to the VIX volatility index is at If it drops lower, it will encroach on the lows it hit in the beginning of and
Correlation stock market bitcoinBitcoin vs. Stock Market: The Growing Correlation - Bitcoin Market Journal
Although Bitcoin and other cryptocurrencies can function like currencies, like payment and store of value, the market cap of cryptocurrencies is quite small compared to traditional finance, and most financial activities are based on fiat money. After all, you can't borrow Euro, then pay back Ethers. Typically you need to pay back Euro. In other words, the financial inclusion of cryptocurrencies is not enough. If bitcoin and other cryptocurrencies replace more traditional financial functions, which may reduce the role of the US dollar and other fiat money, the relationships between Bitcoin and other fiat money will be different.
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Bitcoin and SPX Correlation Source: Coinmetrics Moreover, while the correlation between Bitcoin and the stock market has sky-rocketed, the same is not true for gold. Gold and SPX Correlation However, since the bear market, especially since the beginning of the US-China trade war in the bullishness across all investment assets can be viewed as abnormal.
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