Bitcoin stable amid falling global indices

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The price of the first cryptocurrency continues to trade in a narrow range against the background of falling of the major stock indexes.

BTC/USD four-hour chart for the Bitstamp exchange

For the last day of the main indicators of the global economy, such as the S&P 500, Dow Jones Industrial Average and Nasdaq, etc., showed a sharp decline:

Data: Investing.com

Separately, you can select the index of technology companies Nasdaq, which fell by 4.43%, which was the strongest daily decline since August 2011:

All this casts doubt on the thesis that the price of bitcoin began to closely correlate with traditional Finance and that large investors see BTC as a high-risk asset, and should be removed in periods of “turbulence” in the stock market.

Thus, according to the Sifr Data, the correlation between bitcoin and “barometer” of the us economy, the S&P 500 is almost non-existent:

Source: Sifr Data

We will remind, the recent simultaneous drop in the stock market and crypto-currencies occurred in the first half of October.

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