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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.