A piece in the Wall
Street Journal on the role of the cryptocurrency as an early warning
sign for risk sentiment
- «We’ve begun to watch bitcoin more closely as a sign of speculative enthusiasm,» said Doug Ramsey, chief investment officer of the Minneapolis money manager Leuthold Group.
The price of a bitcoin roughly halved from its late-December high of near $20,000, reversing a powerful speculative rally. That was followed by the first 10% decline in the S&P 500 in two years, beginning in late January.
- Some investors say the tandem moves suggest bitcoin may be a barometer of investor sentiment that ultimately feeds into the stock market and other risky investments. … bitcoin may fall first-and harder.
Correlation vs. causation …. let the debate continue!
Journal piece is here, may be gated
Update to BTC price: