What is the correlation between DJIA chart and Bitcoin price?

1 answers

• May 02, 2022 · 3 years ago
  At BYDFi, we believe that the correlation between the DJIA chart and the price of Bitcoin is minimal. Bitcoin is a decentralized digital currency that operates independently of traditional financial markets. While there may be some short-term correlations due to market sentiment, the long-term value of Bitcoin is driven by its unique properties and adoption as a store of value and medium of exchange. It's important for investors to consider the fundamentals and long-term potential of Bitcoin rather than focusing solely on short-term market movements.
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