Bitcoin is looking a lot less like the S&P 500 every day. Good thing, too, especially considering the doom-and-gloom pessimists have been peddling about the economy and especially corporate earnings. Bitcoin’s Stock Market Correlation Plunged This Month A Fundstrat report reveals that bitcoin’s correlation to the S&P 500 took a nose dive in April, even as the price of the leading cryptocurrency has returned to bullish territory. This means that the dynamic between bitcoin and the stock market is increasingly an inverse one — when stocks go down, the price of bitcoin goes up. Given the nascent nature of the
The post Analyst: Bitcoin’s Evolving into the Stock Market Hedge Investors Crave appeared first on CCN
* First published on ccn.com
