Is Bitcoin Correlated to the S&P 500?

Since the creation of Bitcoin (CRYPTO: BTC), investors have been hoping for the day when it trades unrelated to the stock market. 

Recently, Bitcoin has traded more like a tech stock or more similarly to the S&P 500. Yet there is evidence that this is more of a recent trend and that Bitcoin actually has been uncorrelated to the stock market for quite some time. 

Image source: Getty Images.

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Source Fool.com