Is Bitcoin Correlated to the S&P 500❓
Recently, Bitcoin has traded more like a tech stock or more similarly to the S&P 500. Yet there is evidence that this is more of a recent trend and that Bitcoin actually has been uncorrelated to the stock market for quite some time.
The ultimate hope for Bitcoin becoming uncorrelated to the stock market is that it will not be subject to economic policies that so often cause ups and downs in equities. Additionally, if Bitcoin trades separately from the stock market, it is viewed almost as a badge of honor for Bitcoin's development from a speculative, volatile asset to a necessary component for all portfolios.
Read MoreIndeed it will great for BTC to stand on its own eventually, hopefully time will come when BTC will be used to hedge against inflation.
