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Bitcoin Research Proves Crypto Is Becoming a Stock Market Hedge

Summary:
More than a decade into its existence, Bitcoin is finally maturing into a full-blown stock market hedge.That’s the conclusion of new research from crypto prime dealer SFOX, which indicates that Bitcoin and other major cryptocurrencies like Ethereum have developed a negative correlation with the S&P 500. This means that as the stock market bellwether index falls, the prices of the cryptocurrencies rise – and vice versa.Over the past 30 days, Bitcoin’s correlation with the S&P 500 was -0.402, while Ethereum’s correlation with the stock market index was -0.322. The index’s correlation between Bitcoin Cash, Litecoin, Ethereum Classic, and Bitcoin SV was -0.32, -0.216, -0.267 and -0.223 respectively.Correlation between crypto and traditional assets | Source: SFOXThe negative correlation between

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