Stocks and Bitcoin battling back todaysteemCreated with Sketch.

in #stocks5 years ago

After selling off the last few days, stocks are making a comeback.

This morning stocks opened way down, and then I saw this notification...

(Source: https://twitter.com/fundstrat/status/1159177111862730753)

Yep, stocks were down bigly and then went positive.

Bitcoin was down most of the evening and turned positive early in the morning, going back over $12k.

Interestingly enough, does this mean if stocks go up bitcoin will go down?

I am not sure what the correlations are anymore.

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There is a definitely inverse correlation at play, just look at the drops this year in equities and the rise in bitcoin.

It does seem to be inversely correlated now, which I think is probably not a good thing and won't last. I think stocks will zoom higher again shortly.

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