Keiser Stresses that ‘Bitcoin is Correlated with the US Dollar and “not” with Stocks

Keiser Stresses that 'Bitcoin is Correlated with the US Dollar and “not” with Stocks

The news regarding the alleged involvement of global banking giants aiding the criminals for almost two decades to embezzle and launder huge amounts of money has gone like wildfire amongst the general public on September 21 (Monday). This resulted in the fall of stock trading along with cryptocurrencies. Soon thereafter once again the debate has sparked between many where it is said that both, stocks trading, as well as cryptocurrency, are very much intertwined with each other and the global financial system.

According to an anonymous user of twitter, he said in his message that both, Bitcoin and stocks, are intrinsically interlinked with each, and if one of them falls then the other automatically falls. He also said that if Bitcoin wants to survive and continue to dominate the crypto world then it has to part ways with stocks otherwise Bitcoin is likely to go down in the near future. 

However, Max Keiser, who is a known Bitcoin pioneer and a well-regarded Wall Street analyst, soon step in and while replying to the tweet said that Bitcoin is completely different from all aspects. Keiser further stretched his comment by stating that those who think that Bitcoin is “inter-linked” with the stock market are completely wrong and misguided. In fact, Bitcoin, like other trading products such as gold, is inversely interlinked with the US dollar, he said. 

Keiser also warned the Bitcoin users/owners that they should not pay any attention to randomness and don’t allow them to fool you.

Keiser is not the only one who thinks that Bitcoin is entirely different from stocks and has no connection with stocks, but the belief is backed by a large number of Bitcoin supports who are of the view that Bitcoin is a completely different asset than stocks altogether. The bitcoin supporters also presented the argument that in March this year though the Bitcoin had fallen upto 40% yet the global markets were also in red simultaneously. However, Bitcoin yielded phenomenal value since the fall and has recovered more rapidly than the stocks or any other trading products.

However, still there are people who believe that Bitcoin has some sort of inter-linkage with stocks.

Jerry Dedmon

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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