The price of the first cryptocurrency continues to be traded in a narrow range against the background of the fall of the main stock indices.
Over the past 24 hours, the main indicators of the global economy, such as the S & P 500, Dow Jones Industrial Average and Nasdaq, etc., have shown a sharp decline:
Separately, we can highlight the index of high-tech companies Nasdaq, which fell by 4.43%, which was the strongest day-long decline since August 2011:
All this calls into question the thesis that the price of Bitcoin has become closely correlated with traditional finances and that large investors view BTC as a high-risk asset that should be disposed of during periods of “turbulence” in the stock market.
So, according to Sifr Data, the correlation between Bitcoin and the “barometer” of the S & P 500 is almost absent:
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| BTC / USD, the four-hour chart of the Bitstamp exchange |
Separately, we can highlight the index of high-tech companies Nasdaq, which fell by 4.43%, which was the strongest day-long decline since August 2011:
All this calls into question the thesis that the price of Bitcoin has become closely correlated with traditional finances and that large investors view BTC as a high-risk asset that should be disposed of during periods of “turbulence” in the stock market.
So, according to Sifr Data, the correlation between Bitcoin and the “barometer” of the S & P 500 is almost absent:
