Crypto VC: Bitcoin And S&P 500 Trading At Near-Zero Correlation4.8

The crypto market‘s lack of correlation with traditional equities, like American stocks, bonds, and real estate, has always been an integral part of the tantalizing, entrancing nature of Bitcoin. And while the broader cryptocurrency space has matured drastically over yesteryear, data indicates that the legacy financial system and the realm of blockchain-based assets have aren’t two peas in the same markets pod.

In late-December, mere days after Christmas, legendary American financial journalist Andrew Sorkin questioned the belief that cryptocurrencies aren’t correlated with notable U.S. stock indices. Speaking with Anthony “Pomp” Pompliano on CNBC’s “Squawk Box,” Sorkin explained that a majority of crypto holders “have a lot of money in technology stocks,” and thus simultaneously pushed FAANG stocks and BTC lower in December’s downturn.

Original source
https://www.newsbtc.com/2019/01/28/crypto-vc-bitcoin-sp-500-trading-near-zero-correlation/

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