Decoupled: Analyzing Bitcoin Diverging Away From the Stock Market

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Bitcoin price this week surged by over $1,000 in a single day, taking the cryptocurrency hurdling toward 2019 highs. At the same time, the stock market that’s traded lock and step with the crypto asset all throughout 2020, dropped hard. The phenomenon is something top crypto analysts had called for, who now expect Bitcoin to break out into a bull market. But before crypto investors get their hopes up too quickly, here’s a deep dive into the possible decoupling of the stock market and Bitcoin correlation, and what that might mean for both asset classes. Crypto Correlation With The S&P 500 Diverges, Is The Decoupling Here? Last week, Bitcoin took the world of finance by storm, when it exploded by over $1,000 in a single day, taking out 2020 highs and targeting last year’s peak. And while the move itself was enough to cause plenty of chatter, much of the…

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