What is the historical correlation between the ASX200 chart and Bitcoin price?

3 answers

• Nov 29, 2021 · 3 years ago
  The historical correlation between the ASX200 chart and Bitcoin price has been a topic of interest for many investors. Over the years, there have been periods of positive correlation, where both assets moved in the same direction, and periods of negative correlation, where they moved in opposite directions. It's important to note that correlation does not imply causation, and the relationship between the two assets can change over time. Factors such as market sentiment, economic conditions, and regulatory developments can influence their correlation. It's advisable for investors to conduct thorough research and analysis before making any investment decisions based on the correlation between the ASX200 chart and Bitcoin price.
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• Nov 29, 2021 · 3 years ago
  The historical correlation between the ASX200 chart and Bitcoin price is a complex topic. While there have been instances of correlation between the two assets, it is not a consistent or reliable indicator. The ASX200 is an index that represents the performance of the top 200 companies listed on the Australian Securities Exchange, while Bitcoin is a decentralized digital currency. The factors influencing their prices are different, and their correlation can be influenced by various market factors. It's important for investors to consider multiple factors and conduct their own analysis when assessing the relationship between the ASX200 chart and Bitcoin price.
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• Nov 29, 2021 · 3 years ago
  As an expert in the field, I can confirm that there is no significant historical correlation between the ASX200 chart and Bitcoin price. The ASX200 represents the Australian stock market, while Bitcoin is a digital currency that operates independently of traditional financial markets. The factors influencing their prices are fundamentally different, and their correlation is not a reliable indicator for investment decisions. It's important for investors to focus on the specific characteristics and trends of each asset when making investment decisions, rather than relying on correlations that may not hold true in the long term.
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