I like the thought but I challenge the fact that they would correlate as those markets are more entangled with institutions whereas bitcoin still is most lead by a smaller and unrepresentative community. Therefore, bitcoin could remain flat as the financial markets continue to inflate due to manipulation by the Central Banks as they work to maintain their own bubbles.
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True. Though they are the most correlated to bitcoin of any other asset class over the past 3 years. If you look at EM specifically it was a pretty strong correlation for over 2 years. Perhaps it was just coincidence though... as you mentioned they are very different markets with very different participants for the most part.