Bitcoin Won’t Reach New All-Time High Until S&P 500 Does

Bitcoin has been loosely correlated with the S&P 500 and other major stock market indexes. Therefore, JPMorgan’s recent prediction may indicate that Bitcoin could see some strong months ahead.

According to new probabilistic models by JPMorgan Chase, fears of a recession have subsided and we may see a new high in the stock market in 2020.

Tom Lee from Fundstrat has repeatedly argued, based on his statistical models, that one of the major predictors of Bitcoin’s price is the stock market. He argues that Bitcoin won’t reach a new all-time high until the S&P 500 does, as BeInCrypto previously reported.
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I recently read an article from a gentleman who has been very accurate about btc price swings. He thinks it will gradually drop to around 1000 usd and then fast climb again from there and explode in value. Who knows though. So much impacts the markets now.
1 month ago 1 month ago