Stock Market took a huge dive, Cryptocurrency follows

[Bohr256]

When all major markets around the globe are all red, and btc is no exception, that's a pretty damn big 'coincidence,' don't you think?

[Ozero]

When all major markets around the globe are all red, and btc is no exception, that's a pretty damn big 'coincidence,' don't you think?

What is this coincidence? The spread of coronavirus disrupts the ordinary life of people, disrupts processes in any area of human activity. Therefore, the level of production, trade, and so on. Although the cryptocurrency market mainly depends on the availability of the Internet and certain technical means, the lack of necessary direct contacts between people, caused by the need to take protective measures against coronavirus, also negatively affects this market.

[davis196]

When all major markets around the globe are all red, and btc is no exception, that's a pretty damn big 'coincidence,' don't you think?

Who is saying that this is a coincidence?
By the way,is Bitcointalk a stock market forum now?So many people posting threads about the stock markets it makes me wonder are we still a cryptocurrency forum.
There's nothing we can do,except waiting for the global "coronarecession" storm to go away slowly.The prices ,both stock and crypto,will recover,sooner or later.
Unfortunately,according to recent studies,the coronavirus is here to stay and the peak might be at the end of September.

[carlisle1]

Hate to be the bearer of bad news...
Well, bad for some, good for others.

Such is life...same as that song:

"The power of love, is a curious thing,
make a one man weep, and another man sing"

Could be perfectly translated into Trading, just change the word "love" with "market"

As of today, March 9th, 2020:
Stocks Index Dow Jones is down by $2000 (-8%)
Cryptocurrency Market cap is down by $18B (-7,8%)

What do you make of it?

Source

looks like becoming truth ,because yeah market of crypto is falling down with stock market and i hate seeing this.
i have been expecting a 10$k level for the whole months before halving and now here we are fading bad though the good part is i now can buy lower price for my target currencies to be added in my folio.

but with so many bad news happening now?we can expect more downtrend this month and may recovery comes next month.

[pooya87]

Bitcoin is a cryptocurrency. Irrespective of that, its pretty much been following the stock market in the last 2-3 weeks or so to a T:

my point is that you can not make a conclusion based on 0.3% of the lifetime of bitcoin! and that's what your chart shows, only about 0.3% of the total time bitcoin was around. things like that are called a coincidence.
now if that was half a year of following stock market then it would have been a different discussion.

That same 0.3% is the same period of time that stocks have been in a bear market since the birth of bitcoin. Therefore, its reasonable to believe its not just a coincidence. The last time the stock market had a dip of reasonable size (from Sept - Dec 2019) -- guess what -- bitcoin dipped as well.

we have had similar stock market crashes in the past both in US stock market and other countries but bitcoin either never even reacted to them or was rising.
example: September 2018, bitcoin price crashes about 50% and a couple of days later stock market has a 20% crash while bitcoin price remains the same during that crash.
from December 2015 to January 2016 is a month long bear market in stock market while bitcoin price is pretty much stable.
June 2015 is a brutal time for Chinese stock market where it loses nearly 50% meanwhile bitcoin price goes up from $200 to $300
and many more... so yeah i still say it is coincidence and market manipulation that has led bitcoin price going down at the same time.

[nutildah]

we have had similar stock market crashes in the past both in US stock market and other countries but bitcoin either never even reacted to them or was rising.
example: September 2018, bitcoin price crashes about 50% and a couple of days later stock market has a 20% crash while bitcoin price remains the same during that crash.
from December 2015 to January 2016 is a month long bear market in stock market while bitcoin price is pretty much stable.
June 2015 is a brutal time for Chinese stock market where it loses nearly 50% meanwhile bitcoin price goes up from $200 to $300
and many more... so yeah i still say it is coincidence and market manipulation that has led bitcoin price going down at the same time.

You're ignoring the fact that Bakkt didn't open until Sept. 2019, and CME bitcoin futures opened in December 2017. Institutional investing in bitcoin before then was happening but relatively stifled compared to what its been since. I'd say its nuts to continue to operate under the assumption that Wall Street still has zero influence on the price of BTC, but be my guest.

[pooya87]

You're ignoring the fact that Bakkt didn't open until Sept. 2019, and CME bitcoin futures opened in December 2017. Institutional investing in bitcoin before then was happening but relatively stifled compared to what its been since. I'd say its nuts to continue to operate under the assumption that Wall Street still has zero influence on the price of BTC, but be my guest.

i never made such claims!
i agree that Wall Street does have some influence on bitcoin price and it may have grown over the past couple of years due to Futures and stuff like that but that still doesn't mean bitcoin market "follows" stock market.

[Assface16678]

Bitcoin is a cryptocurrency. Irrespective of that, its pretty much been following the stock market in the last 2-3 weeks or so to a T:

my point is that you can not make a conclusion based on 0.3% of the lifetime of bitcoin! and that's what your chart shows, only about 0.3% of the total time bitcoin was around. things like that are called a coincidence.
now if that was half a year of following stock market then it would have been a different discussion.

That same 0.3% is the same period of time that stocks have been in a bear market since the birth of bitcoin. Therefore, its reasonable to believe its not just a coincidence. The last time the stock market had a dip of reasonable size (from Sept - Dec 2019) -- guess what -- bitcoin dipped as well.

we have had similar stock market crashes in the past both in US stock market and other countries but bitcoin either never even reacted to them or was rising.
example: September 2018, bitcoin price crashes about 50% and a couple of days later stock market has a 20% crash while bitcoin price remains the same during that crash.
from December 2015 to January 2016 is a month long bear market in stock market while bitcoin price is pretty much stable.
June 2015 is a brutal time for Chinese stock market where it loses nearly 50% meanwhile bitcoin price goes up from $200 to $300
and many more... so yeah i still say it is coincidence and market manipulation that has led bitcoin price going down at the same time.

Again we are now experiencing that the market price of all of the currency is falling down and it is not a good sign because before on the previous years it takes a lot of days and months before we can get a lot of payment but now the price of the coins drops on just a single week and this is not quite good also or affects the whole market transaction and the pandemic diseases today there are a lot of people stating that the cause of the downfall of the price is having hoarding and pulling out all of the investment because of the virus and they are using this to keep safe and use their coins to buy all the things they need to avoid the virus. Also, that kind of action affects the whole market and now the stock and the price of the coins are falling rapidly.

[chriss_coin]

BTC just crushed nose down 20 minuted ago.. Still no news why

Its fear... i wonder what happens when the NYSE opens in roughly 2 hours... So far its a bloodbath. Altcoins more than 50% loss since 3 weeks...

EDIT: Regarding Altcoins Investment: I think, similar to stock markets, the advice now is to look which company/foundation can actually survive another economic meltdown, aka recession or depression from now on and to invest in them. Whos CEO is actually capable of maneuvering his ideas and employees through such a troublesome time.
On a good side i think, we wont have 5000+ Altcoins after a few years anymore. It should clear up the field quite a bit...

[Wexnident]

I see no correlation to it tbh. I mean, for the stock market, the reason could clearly be said to be the ongoing Pandemic of the NCOV virus. Nothing weird about that, after all, it's already affected quite a huge part of the world and businesses have long seen the impacts it has made to their profits. As for the dive of crypto, I doubt the same could be said since technically, BTC is out of reach of the virus. Although, it might be an issue where since the economic part of the globe is kind of slowly crashing right now, you could say that BTC following that crash is pretty understandable. After all, even if BTC is on the internet, without an economy to support it, it's value is pretty useless.

[omone1]

This is why it's very important we come to the reality that cryptocurrency is very volatile and precaution should be taken while investing, and never to promise anyone a certainty return. Some traders see this a major opportunity to buy the dip because this current state of the market won't endure for long. I have more confidence on the coin market to rebound faster than the stock market.

[nutildah]

that still doesn't mean bitcoin market "follows" stock market.

It's exactly what it means. You're clinging to an outdated belief at this point.

[Yaunfitda]

This is why it's very important we come to the reality that cryptocurrency is very volatile and precaution should be taken while investing, and never to promise anyone a certainty return. Some traders see this a major opportunity to buy the dip because this current state of the market won't endure for long. I have more confidence on the coin market to rebound faster than the stock market.

What reality?, it's been with us since the price went from $.1 - $ 19k in 2017 and then back to $3k in 2018, of course it is very volatile asset.

As for the correlation, obviously, every investors are into panic mode now, not just in crypto but the whole global traditional market, it is due to corona scare? or the oil war? Maybe, maybe not. One thing is for sure is that people are selling off to have some cash at hand in cash of a break-down.

[Soldierswitlittlefaith]

For stock market i can understand that due to the recent alarm around the globe but, for bitcoin i donot know why the rapid drop from 9,000 us to 5,772 usd  (as of 13.03.20)

But, i think btc will adjust soon now or later because this is time where most stock investor's will be looking for an alternative source to invest.

Thanks
Soldierwitlittlefaith

[isaac_clarke22]

WRONG.
cryptocurrencies are all following bitcoin price which is why they are dumping 10% harder than bitcoin. and bitcoin is currently following a big panic in the market that has unknown origins and has nothing to do with stock market crashing since bitcoin has never followed and is not following any other market including stock market ever. i find it absurd that some people are trying to convince everyone that after 11 years bitcoin has suddenly decided to follow another market!

Seems like it, almost everything in CMC are all in red right now actually with just a little difference to the decrease. Due to the disease being declared pandemic, it seems like it is expected that the market will get a lot of panic selling although. I didn't know that stock market was crashing already though as I don't trade stocks just yet.
Bitcoin even fell below 4k last year and it isn't in line with what happen to the traditional market.

[pawanjain]

The reason why the stock market and the crypto market is falling because of the well known Covid-19 pandemic situation.
It's not because of any under performing asset or something. People are treating it as an investment and just because the situation is getting worse day by day, people are taking out all their investments whether it be stocks or crypto. Atleast, that's what I think is going on in the current market.

[Yatsan]

that still doesn't mean bitcoin market "follows" stock market.

It's exactly what it means. You're clinging to an outdated belief at this point.

No direct corelation but somehow it produce a rattle effect to the other. The crypto and stock market itself is surely not related to each other, however, the people behind those market could possibly related or most probably they are just an individual. At this point of time, we are seeing the markets going down not because of the season but because of the main reason, the crisis.  Covid-19 is extremely on high risk, people are panicking and worst they cannot contain themselves with what is happening right now. Look at btc, it dives for almost half of its value just yesterday as the corona virus continue to spread across the globe. But at the simplest terms, it is pretty natural for any market to crash, there will be a recovery pretty soon.

[pixie85]

The reason why the stock market and the crypto market is falling because of the well known Covid-19 pandemic situation.
It's not because of any under performing asset or something. People are treating it as an investment and just because the situation is getting worse day by day, people are taking out all their investments whether it be stocks or crypto. Atleast, that's what I think is going on in the current market.

It's not crashing because of the virus. The virus has infected only a few percent of the world population and is expected to kill less than 2% of the infected.

Every year more people die from smoking cigarettes that this coronavirus will kill.

The markets are crashing because people fear the unexpected. They feer quarantine and border shutdown. They fear their workplaces and stores closing. They want to have money at hand for sudden expenses.

[Broly46]

Everything went down the rabbit hole, what a way to end the Black Swan Friday, I’m prefer to sticking myself into the next anime, I think nobody care about market anymore? I didn’t heard anybody kill themselve over the index plummeted, or may be I missing something?

[madhavsinghrajput]

@avikz a correlation like?

I know a lot of people usually say "no relation" "coincidence" etc but it's not true. Often traditional markets and Bitcoin behave the same way. Not only during the bad periods, during the good ones too. There are so many opportunities to see it.
And why it shouldn't be? Bitcoin has more people using it as an investment that people using it for real cases, I mean BTC is traded like the traditional markets.

Even i don't think there is any relation between crypto market and traditional market behaving in similar manner.The only reason which i think can be relateble is that when traditional market behaves greenish,the capital in market increases simultaneously per capita income also increases  which allows people to invest more and VCs can be one of the podium of investment.Other than that i didn't find any other relation.But still it is really confusing because when i think of "coincedence",These happen once or twice but these sort of coincidence had happen "n" number of times strange.I think we should say the reason behind there relation is still mysterious and yet to be discovered.