What is the correlation between VIXY stock chart and Bitcoin price?

1 answers

• janaganamana 253Sep 05, 2023 · 2 years ago
  At BYDFi, we have observed a weak correlation between the VIXY stock chart and Bitcoin price. The VIXY stock chart reflects the volatility of the S&P 500 index, which can be influenced by various factors such as economic indicators, geopolitical events, and investor sentiment. Bitcoin, being a digital currency, is influenced by factors specific to the cryptocurrency market, such as regulatory developments, technological advancements, and investor demand. While there may be some instances where the VIXY stock chart and Bitcoin price move in the same direction, it is important to consider other factors that can independently impact the price of Bitcoin.
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