Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Reaches Record High Correlation to S&P 500
by
LogitechMouse
on 12/07/2020, 00:57:02 UTC
Bitcoin’s strong performance from March lows has fueled demand to buy and trade bitcoin, even with the coronavirus pandemic battering the economy. Investors are increasingly looking for inflation hedges like gold or bitcoin amid aggressive expansionary monetary policy, which has also pushed equity prices higher at the same time.]
With the QE being done in some part of the world especially in US, I know that some investors want to come out of cash that is why they've invested in Bitcoin in March Lows and they saw it as an opportunity to buy and at that time too, Bitcoin halving is near to happen so it can be another reason too.

"Crypto is fully independent from financical market" they said, hah
It really is independent from the financial market and nobody is holding all of the crypto. The only factor crypto market and other market are the same is that the prices are driven by the investors which means that if a very bad thing happen and investors react on it then the market will go down like what happened months ago where even crypto market went down very hard too.