Bitcoin Correlation to the S&P 500
Had someone ask me today what I thought about Bitcoin.
I had to say, They're the same thing!
Since last year Bitcoin and S&P 500 have had a tight correlation of peaks and troughs.
Each step lower for bitcoin or S&P and the other follows suite.
Bitcoin is in tight consolidation now waiting for direction.
Next major move for the S&P 500 is CPI on Sept 13.
Lower CPI.. Upwards
Higher CPI... Downwards.
Consolidation / volatility expected for the next 2 weeks.
If you enjoy the charts, please boost and follow.
I had to say, They're the same thing!
Since last year Bitcoin and S&P 500 have had a tight correlation of peaks and troughs.
Each step lower for bitcoin or S&P and the other follows suite.
Bitcoin is in tight consolidation now waiting for direction.
Next major move for the S&P 500 is CPI on Sept 13.
Lower CPI.. Upwards
Higher CPI... Downwards.
Consolidation / volatility expected for the next 2 weeks.
If you enjoy the charts, please boost and follow.
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