The markets of the United States and Japan influence the price of Bitcoin
Let's see
A few days ago I made an analysis on whether bitcoin has a positive correlation with the S&P 500
I leave the link
Bitcoin (BTC/USD) Positive or Not Correlation - Bitcoin vs S&P500 - Does it influence the price?
Today I add another parameter plus the Japanese stock market (the Nikkei)
As we saw in the last post, according to my analysis, there are periods that bitcoin maintains a positive correlation with the S & P500 and now I add the Nikkei
As we can see in the graphs, the Bitcoin price follows a previous movement of these 2 exchanges, on some occasions it follows one of the 2 exchanges, on the rise or correcting.
The movements are persistent in short periods of time such as 1hr or 30 minutes
Will we continue with this correlation for much longer?
What do you think?
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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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