It sure doesn't. But in BTC's case, it seems as though the two go hand in hand. And despite the rhetoric of BTC being a hedge against risk on assets, since 2011, BTC has a correlation coefficient of about r=0.78 compared to that with gold of about r= -0.14.
Go figure.
And then again, when all shit breaks loose, all asset classes converge to 1. But BTC has never experienced a macro econ recession. If it does, will it also be gaining? As CNBC's Thomas Lee once stated BTC is ambidextrous, we all hope so.
And although BTC is volatile as f*ck, compared to the S&P, BTC's Sharpe Ratio once again steals the show:
BTC YTD Sharpe: 42.9
S&P YTD Sharpe: 20.8
So what's is going to take for BTC to pump again? Do we need the S&P to also pump some? Well as the eve of the 70th anniversary of the People's Republic of China creeps up on us, it's easy to say getting a trade deal done will be the catalyst. But with comments from US officials on Friday threatening to delist Chinese stocks from US exchanges...HOLD on tighter.
Go figure.
And then again, when all shit breaks loose, all asset classes converge to 1. But BTC has never experienced a macro econ recession. If it does, will it also be gaining? As CNBC's Thomas Lee once stated BTC is ambidextrous, we all hope so.
And although BTC is volatile as f*ck, compared to the S&P, BTC's Sharpe Ratio once again steals the show:
BTC YTD Sharpe: 42.9
S&P YTD Sharpe: 20.8
So what's is going to take for BTC to pump again? Do we need the S&P to also pump some? Well as the eve of the 70th anniversary of the People's Republic of China creeps up on us, it's easy to say getting a trade deal done will be the catalyst. But with comments from US officials on Friday threatening to delist Chinese stocks from US exchanges...HOLD on tighter.