Has anyone noticed the strange correlation between BTC and the VIX lately? Is there really enough money entering from Wall Street to have an effect on bitcoins price? According to a comparison chart, it looks like this might just be the case, for the last few months at least.
I used google finance to make the above comparison chart. Here are the instructions for anyone out there who wants to have a look at the data themselves. Please note, this doesn’t seem to work on my cell phone and you will probably need to use your computer to get good results.
Steps:
Load up the BTC chart in google finance at this link-
https://finance.google.ca/finance?q=CURRENCY%3ABTC&ei=fcogWviKGdTa2AaJ143ABw
At the top left of the chart in the “Enter currency” box type in VIX and select “CBOE Volatility Index” then click add.
Next you will have your comparison chart.
So let me know what you think. Is this a coincidence? Are we going to see a stronger correlation to the VIX in months to come? Has anyone got a better way of making a comparison chart?
Here is an interesting article that prompted my investigation:
http://www.businessinsider.com/bitcoin-price-wall-street-volatility-index-correlation-deutsche-bank-2018-1