It is very interesting to compare stock market and cryptocurrency market. Usually when stock markets downturn, money managers don't look for more speculative investments. They enter bond market and cash, while the aggressive ones buy the dip. Let's take a look at some of the yearly charts:
DOW JONES INDUSTRIAL AVG INDEX
( or simply the Dow, is a stock market index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market)
S&P 500 INDEX
( The Standard & Poor's 500, often abbreviated as the S&P 500, or just the S&P, is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.)
BITCOIN PRICE CHART
TOTAL CRYPTOCURRENCY MARKET CAPITALIZATION
As i am invested both I've noticed this strange correlation as well. That's especially strange as BTC is sometimes considered a hedge against market movement, but not by the market. Maybe coins are just considered as highly speculative invesmtent, which of some sort they are ;-)
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