Is Bitcoin Now a Stock Market Indicator?

[dowmike + 37]

There's been talk for a while about whether bitcoin has any correlation to the stock market, but it seems to be clearly moving in that direction. Interesting interview with Reuters with Jeffrey Gundlach of DoubleLine Capital calling bitcoin a "new stock market indicator". He says the tie-in here is obvious...

http://www.businessinsider.com/gundlach-bitcoin-leads-stock-market-movements-2018-4

[Blockchainbull + 26]

yeah, definitely, but many will point out that the correlation is really between the VIX and Bitcoin, rather than Bitcoin and the stock market itself but it seems to me that Gundlach is taking this further.

 

[TraderTate + 186]

so the vix is up over 80% this quarter ... that suggest a bitcoin rally?

 

[TraderTate + 186]

10 minutes ago, Blockchainbull said:

yeah, definitely, but many will point out that the correlation is really between the VIX and Bitcoin, rather than Bitcoin and the stock market itself but it seems to me that Gundlach is taking this further.

 

your chart doesn't capture ultra volatile march...

[CameronMcGrath + 4]

Now many people store money in bitcoins, because it is reliable and still profitable. So recently, my friend showed me another reliable service where you can store bitcoin, bitcoin tumbler  . And now bitcoin is growing very much. Just the other day, Elon Musk tweeted about bitcoin and now it has grown by ten or twenty percent. It turns out that everyone who kept money in this way also increases their capital. So I'm kind of a fan of storing money this way, you can say that I'm wrong, but I see that this way of storing money is much better at the moment.

Edited February 7, 2021 by CameronMcGrath