So Is There a Correlation Between Bitcoin and Stock Ma… | News

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Looking at the Bitcoin graph, and that of the stock market, including the Dow Jones and the S&P 500, you may have noted an interesting similarity. The stock market was growing to new heights rapidly, with even Donald Trump tweeting how it had risen 20 percent since his election. A little before these heights, Bitcoin had also surged up to its all-time high of $20,000 on Dec. 17.

Both markets then started to plunge, first, it was Bitcoin, whose price steadily dropped towards $6,000 before hitting a floor. The stock market fell a lot quicker, but the pattern looked remarkably similar, with them both finding a floor last Monday. The Dow Jones Industrial Average saw its biggest one-day point drop in history on Monday, and the S&P 500 had its worst day since 2011. Questions then started to spring up whether or…

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