Stock Market Plunges But Has No Impact on Crypto: No Correlation?
This week, the US stock market deleted all of its gains made in 2018 amidst a major sell-off. The crash had no impact on the crypto market, showing no signs of inverse correlation.
Possibly affected by the trade war between China and the US along with the increase in Fed rates, the US stock market suffered one of its worst short-term crashes in recent history.
Analysts stated that Asia markets are more vulnerable than the US if the stock market crash of the US is to intensify, given the gradual decline in the growth rate of China’s economy.
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