Bitcoin tied to stock market?

[phazon307]

I thought BTC was supposed to not be tied currently to the stock marker but I find it weirdly strange that while the stock market is crumbling so is BTC, and many other commodities.

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[rat]

i have noticed the same.

it's definitely not being used as a hedge, like gold & silver.

[ChuckBuck]

It's not tied to the stock market per se, as it's volatility is tied to any news headlines good or bad; IE Russia, Germany, Mt. Gox, Apple, Shrem etc.

[gollum]

I thought BTC was supposed to not be tied currently to the stock marker but I find it weirdly strange that while the stock market is crumbling so is BTC, and many other commodities.

Bingo!
Yes, Bitcoin is a high risk asset, and when speculators are greedy bitcoin is going up more than stocks, and when stocks go down bitcoin crashes.

It's simply about human emotions fear and greed. Right now the market is beginning to be more fearful and is dumping risk assets such as bitcoin and is buying into gold instead.

[phazon307]

Well I think it will bounce back I noticed all the alt coins have significantly dropped in price as well.

[slowlyslowly]

yes there are only about 12 million bitcoins in existence but most are just being held. it may be as little as 1/2 -1 million that is being traded which is a very small number since most of the world is able to trade with it if they wish to do so.
 many new speculators have got into it since it stopped being about $20. most of the people therefore 'trading' are doing so to make money or if it drops sell out quick to avoid a big loss. the fact its bitcoin is irrelevant to them, it could be tulips. so the price is highly jittery to news as another poster has said.

i think the original miners must  shake their heads at the fuss that is being made about the price all the time. its not helping the longer term "acceptance/credibility' that bitcoin needs to get firmly established.

[realsteve]

I thought BTC was supposed to not be tied currently to the stock marker but I find it weirdly strange that while the stock market is crumbling so is BTC, and many other commodities.

I've been wondering about this lately. The crypto markets took a nosedive at the same time the stock market broke 26,000. Clearly, these markets do not move in unison. Is it possible they react differently? Cryto is a global economy but a lot of the investment is made in the United States.

[bitart]

I thought BTC was supposed to not be tied currently to the stock marker but I find it weirdly strange that while the stock market is crumbling so is BTC, and many other commodities.

I've been wondering about this lately. The crypto markets took a nosedive at the same time the stock market broke 26,000. Clearly, these markets do not move in unison. Is it possible they react differently? Cryto is a global economy but a lot of the investment is made in the United States.

And don't forget the futures, they're already live and people are trading them too. That's really close to stock market... Yesterday one of the futures contracts has been closed and Bitcoin has hit the bottom of the price in long time. This also could be just a coincidence but well...