Bitcoin Prices Are Less Independent Than You Think
Inside the world of cryptocurrencies, some truths go unquestioned: 1) centralization is terrible, 2) fixed money supplies are great, 3) cryptocurrencies are uncorrelated from stocks.
The last “truth” is now in question.
Many analysts, myself included, have raised questions about Bitcoin following the stock market before, but none of us made the case as strongly as Forbes contributor Clem Chambers.
Chambers recently used intraday trade charts to show that Bitcoin prices often follow the same patterns as the Dow Jones Index. (Source: “.
The post The Epic Relation Between Bitcoin and the Stock Market appeared first on Profit Confidential.
Written by Gaurav S. Iyer, IFC @ https://www.profitconfidential.com/cryptocurrency/bitcoin/epic-relation-bitcoin-stock-market/ May 12, 2018 Gaurav S. Iyer, IFC