What is the correlation between the S&P daily chart and the performance of Bitcoin?

1 answers

• May 08, 2022 · 3 years ago
  At BYDFi, we have been closely monitoring the correlation between the S&P 500 and Bitcoin. While there have been instances where the two assets exhibited a correlation, it is important to note that correlation does not necessarily imply causation. The price movements of Bitcoin are influenced by a wide range of factors, including market demand, investor sentiment, regulatory developments, and macroeconomic trends. While the S&P 500 can provide some insights into overall market sentiment, it is just one piece of the puzzle. It's always recommended to conduct thorough research and analysis, and to diversify your investment portfolio to mitigate risks associated with any single asset.
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