Correlation study of NASDAQ and Bitcoin
Obviously, since the start of 2020, NASDAQ index and Bitcoin has positive correlation which means they move in the same direction (most of the time). Swings happened 1 week earlier in Bitcoin in comparison to Nasdaq.
Based on this assumption the following trading week could be challenging for stocks as well, and for those with highest level of correlation to Bitcoin such as RIOT and MARA in particular.
Sitting on cash could be the best option.
Based on this assumption the following trading week could be challenging for stocks as well, and for those with highest level of correlation to Bitcoin such as RIOT and MARA in particular.
Sitting on cash could be the best option.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.