No, Bitcoin Isn’t Correlated to the Stock Market or Gold – Claims Analyst

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Bitcoin, altcoins, and global equities have all seen some intense bearishness today, which has primarily stemmed – at least in the case of the traditional markets – from fears surrounding the rapid spread of the Coronavirus across the globe. The fact that this selloff has transcended just the traditional markets and has had impacts on niche markets, like crypto, has led some analysts to note that Bitcoin and altcoins may, for the time being, correlated to the US equities market. Despite this, one analyst is noting that the crypto market’s intense selloff today is not rooted in that seen by the US stock market, but rather from its status as an emerging market that is driven primarily by investor’s emotions rather than fundamental developments. Bitcoin’s “Safe Haven Asset” Narrative Disrupted by Today’s Selloff Bitcoin’s status as a potential safe haven asset has long been debated by investors and analysts alike,…

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