As stock markets plunged recently, Bitcoin continued ever-upwards on its strongest run since the beginning of last great rally of 2017. Is there any relationship between these two events?
Wall Street hates uncertainty. When US-China trade talks unraveled the other day, stocks plummeted, with fears of an economic tsunami that would crash devastating waves into market coasts worldwide. It was the steepest decline on the S&P 500 since January, and continued a fall of 3.8% for the month of May.
In the much smaller – and therefore much more volatile – cryptocurrency realm, a 3.8% drop over the course of a month is laughably small; of little consequence to grizzled crypto trading veterans.
But at the same time that the stock market was gripped with fears over trade disputes, Bitcoin and…