Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

For much of its short history, bitcoin has been uncorrelated to traditional markets, which served as a desirable quality for recession-conscious investors. However, according to data from Coin Metrics, bitcoin’s correlation to U.S. equities, specifically the S&P 500, has strengthened since March 2020.

Originally Posted on: https://www.coindesk.com/markets/2022/07/06/market-wrap-btc-settles-at-20k-as-voyager-files-for-bankruptcy/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Jimmy He

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