The correlation continues

At this point, bitcoin is now more correlated with the S&P 500 than it has been at any other point in its entire history.

These don't even look like two separate assets anymore:

(Source: https://twitter.com/ThecrytpoLark/status/1279139577278730240)

Can you tell which is which?

Bitcoin is the candle stick chart and the S&P is the red line.

As you can see they now pretty much move in lockstep with each other...

The good news is that QE likely pushes stocks (and bitcoin) higher.

The bad news is that BTC just lost one of its major selling points as an uncorrelated asset class.

Time will tell how long it remains this highly correlated, but at this point, bitcoin is basically like a leverage version of the S&P.

Stay informed my friends.

-Doc