If you happen to watch also the stock markets, in the last couple of days and especially today there was a huge crash also in US (and around the world of course). It seems that people are selling assets (crypto and stocks). Is there a correlation or not?
Gold is rising while equity markets around the world and cryptocurrencies are crashing. This kind of punches a hole in the theory that Bitcoin will be considered as some kind of digital gold. There definitely is a correlation and investors are selling risky assets because the yield on treasury bonds is increasing, making them more attractive.
I do agree. Since the yields on cryptocurrency is greater than compared to stocks market. Crypto is a risky assests that can yield 200% in a day while stock market opt to have a yearly gain of 3-5%. Definitely there is correlation given the fact that most of the people who venture on stock market are gain oriented. Therefore, they can't miss a big opportunity to make profit in a single day with the help of cryptocurrecy.