Standard Chartered Bank: Investors can view Bitcoin as a large technology stock, which is highly correlated with Nasdaq in the short term
On March 25, according to CNBC, Standard Chartered Bank said that Bitcoin’s correlation with Nasdaq is generally higher than its correlation with gold, and investors can benefit from viewing Bitcoin as a large technology stock. According to the bank’s data, Bitcoin’s current correlation with Nasdaq is about 0.5, after being close to 0.8 earlier this …