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S&P 500 Breaks Its All-Time High. Will Bitcoin Follow Suit?

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Mon, 28/10/2019 - 13:50
S&P 500 Breaks Its All-Time High. Will Bitcoin Follow Suit?
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The S&P 500 has reached a new all-time high after the opening bell, surging to 3,038 on Monday, CNBC reports. That was possible because of strong corporate earnings and the looming end of the tedious US-China trade war.   

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As reported by U.Today, the US equities reached a new intraday high on Friday, which coincided with Bitcoin's massive 40 percent pump.

Related
Bitcoin and Blockchain Interest Explodes in China After Xi Jinping's Comments

Fundstrat's Tom Lee claimed that Bitcoin would only reach a new high if the S&P 500 achieved the same feat, but many argue that there is no correlation between the US stock market and crypto.     

Lee's unpopular theory got validated last week, but we are yet to see whether Bitcoin will move in tandem with US equities now that the widely-tracked stock market index has finally hit an ATH.    

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