Cryptocurrency Q&A
What is the correlation between Bitcoin and NASDAQ 100?
What is the correlation between Bitcoin and NASDAQ 100?
amelia_miller_designer
Fri Jul 05 2024
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7 answers
1481
Could you elaborate on the potential correlation between Bitcoin, the leading cryptocurrency, and the NASDAQ 100, a benchmark index representing some of the largest non-financial companies listed on the NASDAQ stock exchange? Have there been any observable trends in their price movements? Does one tend to follow the other, or are their movements more independent? Could changes in the NASDAQ 100 influence investors' sentiment towards Bitcoin, or vice versa? Understanding the interplay between these two markets could be valuable for investors looking to diversify their portfolios across traditional stocks and cryptocurrencies.
7 answers
SamuraiBrave
Sun Jul 07 2024
Last Friday marked a significant milestone in the relationship between Bitcoin and the Nasdaq 100 index.
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CryptoMystic
Sun Jul 07 2024
The 40-day correlation between the two financial assets surged to an unprecedented high of 0.6945.
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DongdaemunTrend
Sun Jul 07 2024
This elevated correlation challenges the conventional wisdom that Bitcoin serves as a diversifier in an investor's portfolio.
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benjamin_doe_philosopher
Sun Jul 07 2024
It suggests that Bitcoin's price movements are becoming increasingly synchronized with those of the broader tech sector.
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amelia_martinez_engineer
Sat Jul 06 2024
Despite this erosion of diversification benefits, an analysis of historical data reveals an interesting trend.
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