Bitcoin Correlation to the S&P 500

Had someone ask me today what I thought about Bitcoin.

I had to say, They're the same thing!

Since last year Bitcoin and S&P 500 have had a tight correlation of peaks and troughs.

Each step lower for bitcoin or S&P and the other follows suite.

Bitcoin is in tight consolidation now waiting for direction.

Next major move for the S&P 500 is CPI on Sept 13.

Lower CPI.. Upwards
Higher CPI... Downwards.

Consolidation / volatility expected for the next 2 weeks.

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