Bloomberg ETF Analyst: Bitcoin Is Not a Leading Indicator for the Stock Market
Jinse Finance reported that Eric Balchunas, Senior ETF Analyst at Bloomberg, released research results indicating that bitcoin is not a leading indicator for the stock market. Data shows that after months when bitcoin declines, the stock market still performs positively 62% of the time. Balchunas also pointed out that a certain exchange index ($SPY) has performed strongly, maintaining stability even during months when both bitcoin and stocks decline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meta lost the lawsuit and may face a record fine of up to 219 billions dollars.
Meta lost a lawsuit in New Mexico, USA. The jury found that Meta engaged in deceptive practices regarding public communications and data privacy policies, violating state laws. The New Mexico Attorney General described the verdict as a "milestone moment" in holding tech giants accountable and will petition the court to impose a maximum civil fine of $219 billion on Meta. Meta stated that it disagrees with the verdict and will continue to defend itself.
Chinese Yuan: Consolidation with downside risk toward 6.7330 – UOB
New York Late Money Rates from The Wall Street Journal
Crypto prices
More
