What is the correlation between the s&p 100 index and Bitcoin price?

1 answers

• May 03, 2022 · 3 years ago
  At BYDFi, we believe that the correlation between the S&P 100 index and Bitcoin price is minimal. Bitcoin is a decentralized asset that operates outside the traditional financial system. Its price is influenced by factors such as market demand, investor sentiment, and macroeconomic conditions. While the S&P 100 index reflects the performance of large-cap U.S. stocks, it does not have a direct impact on the price of Bitcoin. It's important for investors to consider the unique characteristics of Bitcoin and the cryptocurrency market when analyzing its price movements. As always, it's recommended to conduct thorough research and seek professional advice before making any investment decisions.
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