Is Bitcoin correlated to the stock market?

[Anonymous No.25015016]

Currently looking to buy the BTC dip. But is Bitcoin correlated to the stock market/other traditional investments? I have no confidence in the current stock market and I think it's going to pop soon. I know a lot of people say it's a hedge against inflation/traditional markets and but I haven't heard why and it doesn't seem to be from my memory (Without looking in-depth at the charts).

[Anonymous No.25015910]

bump

[Anonymous No.25015954]

>>25015016
>But is Bitcoin correlated to the stock market/other traditional investments?
No.

[Anonymous No.25016527]

Sort of. When risk assets sell off, Bitcoin is a risk asset so just like stocks it sells off.

Increasing hedge fund trading in it will also likely cause it to become more correlated with the stock market. Back in 2008, when the stock market had major down days, three days later the hedge funds would all dump their gold to cover their stock market margin calls. I expect to see the same behavior this time with Bitcoin, although at least there are far fewer hedge funds buying into it so far.

[Anonymous No.25016568]

>>25015016
not really, when there are bigger moves, sometimes it floats with stocks, but the general performance has completely decoupled. That's why institutionals are buying in.

[Anonymous No.25017177]

The March/April dip in bitcoin (that I FUCKING MISSED AAAAAAA FUCK YOU COINBASE) was due to people selling bitcoin to get cash to buy stocks on sale, so sometimes BTC price is related to the stock market but I wouldn't try to use one to predict the other.

If you have no confidence in the stock market you should be short. Big money if you're right. At the very least buy TSLA puts. BTC is currently going bubble mode so I would just hold it, even at 24k bitcoin is CHEAP, because within the next year it'll be over 100k. Easy 4x.

[Anonymous No.25017418]

>>25015016
Yes, same with gold. You basically either have the dollar or assets.