What is the correlation between the historical price of Apple stock and cryptocurrency?

3 answers

• Dec 17, 2021 · 3 years ago
  The historical price of Apple stock and the value of cryptocurrencies are not directly correlated. While Apple is a major player in the stock market, the cryptocurrency market is influenced by various factors such as market demand, investor sentiment, and regulatory developments. However, it's worth noting that major events in the tech industry, including Apple's product launches or financial performance, can have an indirect impact on the overall market sentiment and potentially influence the price of cryptocurrencies.
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• Dec 17, 2021 · 3 years ago
  The correlation between the historical price of Apple stock and cryptocurrency is quite low. Cryptocurrencies are a relatively new asset class with their own unique market dynamics. The price of cryptocurrencies is primarily driven by factors such as supply and demand, market sentiment, and technological advancements. While Apple's stock performance can indirectly affect investor sentiment, it is not a direct driver of cryptocurrency prices.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we have analyzed the correlation between the historical price of Apple stock and cryptocurrency. Our research suggests that there is a weak positive correlation between the two. This means that when Apple's stock price increases, there is a tendency for certain cryptocurrencies to also experience a price increase. However, it's important to note that correlation does not imply causation, and other factors play a significant role in cryptocurrency price movements.
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