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Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
There is a term called "correlation" where Bitcoin and the stock market are somewhat correlated in terms of their price because both of them move the same... or at least there are times when both are moving in the same direction. Of course, some factors might cause both of them to not move the same like the sentiment of the investors, economic events, etc. Nevertheless, if you see the stock market go up in price, there's a high chance that Bitcoin will follow it. It's proven, and we've seen it many times already.Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
BTC isn't the one that's affecting the market, but the stock market. I believe that market sentiments are a big factor towards the movement of different assets thus, if there's some positive news being released that's related to the stock market, Bitcoin will also have a positive effect as well, or at least most of the time. Just reverse what you said.
Think about this. The Stock Market and Bitcoin have a correlation. Most of the altcoins and Bitcoin have a correlation as well.