Inside the world of cryptocurrencies, some truths go unquestioned: 1) centralization is terrible, 2) fixed money supplies are great, 3) cryptocurrencies are uncorrelated from stocks.
The last “truth” is now in question.
Many analysts, myself included, have raised questions about Bitcoin following the stock market before, but none of us made the case as strongly as Forbes contributor Clem Chambers.
Chambers recently used intraday trade charts to show that Bitcoin prices often follow the same patterns as the Dow Jones Index. (Source: “Bitcoin Price Is Correlated To Stocks,” Forbes, May 8, 2018.)
In other words, he showed that Bitcoin and the Dow are connected.
Sourced through Scoop.it from: www.profitconfidential.com