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.
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