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TechFlow news, November 19 — Bloomberg senior ETF analyst Eric Balchunas released research indicating that Bitcoin is not a leading indicator for the stock market. Data shows that in months following Bitcoin declines, the stock market still delivered positive performance 62% of the time. Balchunas also noted the strong performance of the S&P 500 ($SPY), which remained stable even during months when both Bitcoin and stocks declined.
Bloomberg senior ETF analyst Eric Balchunas released research indicating that Bitcoin is not a leading indicator for the stock market. Data shows that in months following a Bitcoin decline, the stock market still posted positive performance 62% of the time. Balchunas also noted the strong performance of the S&P 500 ($SPY), which remained stable even during months when both Bitcoin and stocks declined.
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