So the price of Bitcoin just took a nose dive, but it has since rebounded to around $33,000.
Many, including myself, say it has deep ties to the Stock Market. But does it really?
Looking at a 9 month chart, we can see that Bitcoin is obviously more volatile than the market, but shows similar patterns.
Simply look at the chart in the picture above, and one can clearly see similarities.
Looking also at the Tesla/Bitcoin chart, we see similarities as well. Starting June 2017, until February 2018, the 2 charts look almost exactly the same.
Gold and Bitcoin move in similar ways as well, but Bitcoin being the more risky investment. The 2020 chart shows a fairly steady rise of gold, but the chaotic rise of Bitcoin, and even a similar fall in early March.
I say that all are linked, and move in similar ways, but Bitcoin is simply more crazy than others. My take.
If you see things differently, please tell me in the comments below.
Adieu!
