I wanted to create a view to hightlight correlation and Bitcoin (BTC) with the stock market (here the S&P500).
This chart has many areas of interest.
It shows Bitcoin can be completely detached from the stock market (as it runs it somewhat independent cycles).
It also show Bitcoin can be indicating a stock market top.
We only have one recesssion to observe Bitcoins behaviour. It show Bitcoin seems to have been affected by the recession in 2018 (respectively the 20% drop in S&P500).
If we consider where in the cycle Bitcoin is and expect a recession in global markets it is difficult if not just simply impossible to predict Bitcoins behaviour.
The assumption is Bitcoin can act independent of the market.
Market participants could more and more use Bitcoin and not to forget the crypto market as a whole to hedge inflation.
What the chart shows beautifully is that Bitcoin clearly has the higher rates of return! ;)
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
This chart has many areas of interest.
It shows Bitcoin can be completely detached from the stock market (as it runs it somewhat independent cycles).
It also show Bitcoin can be indicating a stock market top.
We only have one recesssion to observe Bitcoins behaviour. It show Bitcoin seems to have been affected by the recession in 2018 (respectively the 20% drop in S&P500).
If we consider where in the cycle Bitcoin is and expect a recession in global markets it is difficult if not just simply impossible to predict Bitcoins behaviour.
The assumption is Bitcoin can act independent of the market.
Market participants could more and more use Bitcoin and not to forget the crypto market as a whole to hedge inflation.
What the chart shows beautifully is that Bitcoin clearly has the higher rates of return! ;)
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
