Hi all,
Recently I watch very closely USA500.IDX and cryptocurrencies price actions. I still not sure which type of correlation is there but I am certain there is some.
If you take a look to charts above you can see that presently even price level of 1 Bitcoin is similar to price level of 1 USA500.IDX contract. Bitcoin presently nests just above 2350 USD and USA500.IDX just above 2230 USD.
Another similarity is consolidation. Bitcoin seems find some more stable value in 2200 - 2500 USD interval and USA500.IDX seems is quite comfortable in 2350 - 2450 (though 2450 USD is not taken yet) USD interval.
One more similarity is nearly same timing for all time highs assault. Bitcoin just was in process of it several days ago and now in the same process is USA500.IDX.
Thus I think value of those two will be related in the foreseeable future.
So lets see how things will develop further...
Best regards,
rokasltu