ββ#Analytics What a strong discorrelation with the S&P π³
At current S&P500 index values, bitcoin was worth $55000-$59000 in 2022.
Unfortunately, since +/- May bitcoin has completely lost correlation with the S&P500 index and the entire rapid rise of the S&P by more than 10% bitcoin has hung out in the sideways.
If big red candles start to appear on the S&P500, bitcoin will not survive and the correlation will temporarily return. In other words, bitcoin does not react to small movements of the S&P500 (fall/growth) or to a strong growth of the S&P500, but it will react to a strong fall.
Ocean TA | Education | P2P | Indicators | All trade agreements
At current S&P500 index values, bitcoin was worth $55000-$59000 in 2022.
Unfortunately, since +/- May bitcoin has completely lost correlation with the S&P500 index and the entire rapid rise of the S&P by more than 10% bitcoin has hung out in the sideways.
If big red candles start to appear on the S&P500, bitcoin will not survive and the correlation will temporarily return. In other words, bitcoin does not react to small movements of the S&P500 (fall/growth) or to a strong growth of the S&P500, but it will react to a strong fall.
Ocean TA | Education | P2P | Indicators | All trade agreements