Bitcoin monthly price chart compare correation with oil and DJI

24 Nis 2020

BTCUSD

Bitcoin has never been correlated to nothing

• BTCUSD, 1M, price chart
  
• CC, USOIL, 20
  
• CC, UKOIL, 20
  
• CC, DJI, 20
  

When CC reaches 1, there is a perfect correlation.
When CC reaches -1, there is a perfect negative correlation.
When CC = 0, there is no correlation at all.
Bitcoin has never been correlated perfectly, or perfectly negative with crude oil, bren oil nor Dow Jones.
Bitcoin is doing is own path, despite the dreams of the hodlers, mooners and big brown bears.
This tutorial is dedicated to Tradingview "experts".