Bitcoin (BTC) has been compared to traditional exchanges for a long time and has been criticized for having been acting with them recently. Although the BTC and S&P 500 correlations are high, the correlation seems to be slowly decreasing. On the other hand, Bitcoin rises as stock markets continue to decline.
In order to try to alleviate the suffering, central banks do everything from lowering interest rates to announcing economic packages, but central banks’ intervention in the markets has not been stopped.
As a result of the measures, the Fed’s balance sheet rose to an all-time high of $ 4.6 trillion. The balance sheet has increased from $ 3.7 trillion to $ 4.6 trillion in the past seven months. According to reports, the Fed plans to make another $ 1 trillion overnight repo transaction.
Choosing between Bitcoin and stocks can create a dilemma as some claim.
Looking back, the first two months of 2020 were pretty good for Bitcoin.
Since the beginning of the year, Bitcoin’s profitability (YTD) is in third place according to some parities. JPY / USD ranks first with the smallest decline of -1.08 percent, followed by CNY / USD with -1.62 percent decline.
In addition, at the time of writing, Bitcoin has lost 13.7 percent since the beginning of the year, while the S&P 500 has fallen 27 percent. However, only last month S&P performed better than Bitcoin (-29.23 percent) with 500 -21.98 percent.
To put everything in perspective, Bitcoin continues to be the safest investment tool compared to parities such as S&P 500, EUR / USD, GBP / USD, KRW / USD since the beginning of 2020.
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