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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin’s Minute-By-Minute Correlation With Stock Market May Signal Disaster

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read

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Created by industry experts and meticulously reviewed
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For most of Bitcoin’s life, it’s been a pitched as an asset uncorrelated from the stock market and other traditional equities. It’s been a strong selling point for institutional investors seeking to add variety or even derisk their portfolios.

However, as of late, the first-ever cryptocurrency has been exhibiting a minute-by-minute correlation with the stock market, and if it continues, it could spell doom for the young digital asset.

Bitcoin Begins to Show Minute-By-Minute Correlation With S&P 500

While Bitcoin was born during the last recession, it is about to face the first major recession since it was first introduced into the world, and no one yet knows how it will react.

The cryptocurrency was designed to have certain attributes that made the asset far more comparable to a scarce commodity like gold, rather than a currency that can be printed at whim or a stock share tied to the value of a corporation.

Related Reading | No Haven Safe: Silver, Gold and Other Precious Metals Nosedive Alongside Bitcoin 

It’s helped to position the asset as a highly uncorrelated asset that investors should at least include a small portion of within their investment portfolio.

However, over the last couple of weeks, with the coronavirus outbreak causing a panic selloff of epic proportions, Bitcoin has suddenly shown a correlation with the stock market.

And more recently, the correlation has become so significant, Bitcoin and the S&P 500, one of the most important stock indexes to the US economy, are showing an uncanny, minute-by-minute similarity.

1 minute chart.

One of these lines is the S&P500, one of these lines is bitcoin. pic.twitter.com/N3vIS5Kl6X

— lowstrife (@lowstrife) March 16, 2020

The Dow May Be Signalling The Greatest Collapse The Economy Has Ever Seen

Bitcoin following the stock market is very dangerous, however. Bitcoin has only known bull market and has never faced a recession, despite being designed to withstand one.

The danger is due to the stock market showing signs of the greatest collapse the world has ever seen, in what could ultimately be a 100-year “top” to the most powerful bull market in history.

In the Dow Jones Industrial Average index chart below, over 100 years of an ongoing bull market can be seen potentially coming to an end.

dow jones bitcoin

The recent collapse in the stock market has the Dow resting on a trend line stemming back from 1982, just before TCP/IP became the standard for what eventually became the modern internet.

Related Reading | Correlated Chaos: Bitcoin, Dow, SP&500, and Gold Held At This Mathematical Level 

There’s also a corresponding bearish divergence dating back from the dot com bubble on the Relative Strength Index, and the MACD is signaling overbought conditions and a potential downturn.

The stock market is facing potential disaster, and if Bitcoin remains heavily correlated with traditional markets, it could continue to suffer in the face of a coming recession.

Featured image from Shutterstock
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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