What are the correlations of cryptocurrency and the stock market?
What are the correlations of cryptocurrency and the stock market?
My jump into the cryptocurrency world last year has been a quick lesson on so many things outside my realm of vision. I had been listening to Jeff Berwick for quite sometime and was in complete agreement with him that something was wrong with the world and I thought it was mostly people in power until he kept mentioning the money. He was right and so I started getting into the crypto market little by little and I couldn't grasp how my $397/bitcoin grew so much so quickly. I invested more and more and researched so many projects and had to adapt quickly.
My most recent inquires have been into the correlations of cryptocurrency and the stock market. I am not completely convinced of what most are saying. Many of the articles I have read see the recent corrections in the crypto sphere, as a psychological trigger of FUD for average stock market investors. I honestly never invested into the stock market until I downloaded Robinhood last month when I heard about it because it is soon to trade some cryptos. I added a few hundred dollars and purchased a few stocks like Twitter and as the stock market has gone down, I have watched most of my crypto assets go into the green.
My gut feeling and intuition about the future is bullish on cryptocurrencies that will truly make a difference like STEEM. As I grow my knowledge about the platform and ecosystem, I definitely see a brighter future through the implementation of this technology.
I am new to writing as well as to the whole crypto world and would love feedback on my writing or opinion on how you feel the stock market and cryptocurrency market are related. Below are 2 interesting articles I read that had some good information.
Thank you
https://www.ccn.com/todays-stock-markets-crash-will-affect-cryptocurrency-markets/
Well written article. I was also wondering about the correlation between the 2. Doesn't make sense to me.
Thank you. This has been a crash course in markets and finance paired with computer programming and technology which is really overwhelming. My hope is that others are thinking like myself and as the stock market "corrects" or crashes the cryptocurrency market will rise and come to life!
I'm an old school precious metals investor and work as a network engineer. This stuff isn't too far off for me. Just trying to diversify my holdings a little bit and love learning about new tech/investments. I still can't figure out why cryptos follow the markets. Sure the graphics card manufacturers and the like would correlate but Proctor and Gamble, GM/Ford or B of A or Chase? Once the cryptos decouple from the market, happy days will be dead ahead. Look forward to seeing more articles.
This correction is a great entry point for new investors to get in board. I think bitcoin could now be breaking its last bit of resistance and if it does we could see a sharp climb back up to £8,000-£10,000. All the nest in your ventures. Please feel free to follow me and check out my blog if you wish @dan21050
Thanks for the vote of confidence. I honestly feel like the whole market isn't even in the first inning when some people say "the bubble has popped", I am not sure if I am just overly excited or in the bubble, but I think we are just really getting started.