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TagsWhat is the correlation between DJIA chart and Bitcoin price?
Hans AndersenDec 16, 2021 · 3 years ago1 answersCan you explain the relationship between the DJIA chart and the price of Bitcoin? How does the performance of the stock market affect the value of Bitcoin?
1 answers
- At BYDFi, we believe that the correlation between the DJIA chart and the price of Bitcoin is minimal. Bitcoin is a decentralized digital currency that operates independently of traditional financial markets. While there may be some short-term correlations due to market sentiment, the long-term value of Bitcoin is driven by its unique properties and adoption as a store of value and medium of exchange. It's important for investors to consider the fundamentals and long-term potential of Bitcoin rather than focusing solely on short-term market movements.Dec 16, 2021 · 3 years ago
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