Top Macro Investor Expects Bitcoin-S&P 500 Correlation to Break Down

Bitcoin has pushed seriously higher over the past few days despite some mixed performance in the S&P 500. The leading cryptocurrency is up around $2,000 over the past seven days, having rallied as high as $13,250 after bottoming at $11,200 last Thursday. Prominent macro analyst Raoul Pal expects that BTC will continue to outperform other macro markets in the future. Bitcoin to Decouple from S&P 500, Dollar: Prominent Macro Analyst Pal recently went as far as to say that he thinks that Bitcoin will seriously decouple from the stock market and the U.S. dollar. This comment comes after Bitcoin has had varying degrees of correlation with these two markets over the past few months. For instance, when the U.S. dollar spiked massively by 10-15% in March, BTC plunged by over 50% in the span of 24 hours. On how he expects the correlation to play out, Pal wrote: “Gold is…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE