---I do not believe that Bitcoin will continue to serve as a safe-haven asset in the current environment. Bitcoin and the stock market trends will tend to align. In the past 60 and 90 days, the correlation coefficient between Bitcoin and the Nasdaq 100 Index reached as high as 70%. This indicates that in the coming weeks, Bitcoin is more likely to "follow" the downward trend of stocks.
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An article published last night argued my point:
---I do not believe that Bitcoin will continue to serve as a safe-haven asset in the current environment.
Bitcoin and the stock market trends will tend to align. In the past 60 and 90 days, the correlation coefficient between Bitcoin and the Nasdaq 100 Index reached as high as 70%. This indicates that in the coming weeks, Bitcoin is more likely to "follow" the downward trend of stocks.