What is the correlation between VIXY stock chart and Bitcoin price?
PivanDec 24, 2021 · 3 years ago1 answers
Can you explain the relationship between the VIXY stock chart and the price of Bitcoin? How does the movement of the VIXY stock chart affect the price of Bitcoin?
1 answers
- Dec 24, 2021 · 3 years agoAt BYDFi, we have observed a weak correlation between the VIXY stock chart and Bitcoin price. The VIXY stock chart reflects the volatility of the S&P 500 index, which can be influenced by various factors such as economic indicators, geopolitical events, and investor sentiment. Bitcoin, being a digital currency, is influenced by factors specific to the cryptocurrency market, such as regulatory developments, technological advancements, and investor demand. While there may be some instances where the VIXY stock chart and Bitcoin price move in the same direction, it is important to consider other factors that can independently impact the price of Bitcoin.
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