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Bitcoin vs. Stocks 2022 – BTC vs. S&P 500, Stocks Not Included –

BTC vs Stocks 2022

BTC is 60% down YTD

But stocks are also not behind

- Saipem (SPM.MI), an Italian oil and gas giant has dropped 99%.

- Cazoo Group Ltd (CZOO), a UK based online car retailer had mcap of 4.55B. It stands at 466M today.

- In the Biotech industry, companies I-Mab (IMAB) and Kodiak Sciences (KOD) lost 90% of their value in 2022.

This does not change the fact that crypto market is also not performing well. Macroeconomic factors are affecting every market.

Bitcoin’s correlation with S&P 500 is strong. But correlation does not mean causation. The cause of the fall could be different but the direction of both asset classes is the same.

Source:

Bitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even moreBitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even more
This post is based on this twitter thread.

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