However, it is clear that right now bitcoin correlates with stocks very closely:Bitcoin and stocks are moving in sync Credit: ADVFNIt doesn’t take a technical analysis savant to see it—the correlation is glaring. This isn’t great news to me because I have a bunch of bitcoin and I believe stocks will tank horribly very soon. An example of the idea that correlation is not causation is the correlation between levels of cheese consumption and people who die strangled by their bedsheets. Both the stock market and bitcoin are responding to it and the inflationary impact of these monetary stimuli. ——Clem Chambers is the CEO of private investors website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide.

Source: Forbes May 13, 2020 13:30 UTC