Sunday, December 4

Tag: s&p 500

The Only Correlation Between Bitcoin and the Stock Market is Panic Selling
PR Wire

The Only Correlation Between Bitcoin and the Stock Market is Panic Selling

Bitcoin recently experienced a significant drop in value when over the course of this last week. Its value dropped from a stable $9,000 to $5,000 in a matter of days. At the same time, on the stock market, many companies and indexes also lost value. Most notably, the S&P 500 index, whose loses flipped a stock market circuit breaker, pausing all trading of the asset for 15 minutes. Following the events, many people started producing stories about how BTC is connected to the stock market’s price movements and it’s not this noncorrelated asset that should behave like gold. Well, Bitcoin is neither following the stock market, nor it is gold. What it is, is simple. It’s Bitcoin. The level of utility that Bitcoin has is as limited as money, but the way one owns Bitcoin is...
Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News
PR Wire

Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

Spencer Platt/Getty Images Hedge funds posted their best month in more than a decade as March's lows gave way to a resounding rally through April. Eurekahedge's Hedge Fund Index gained 3.7% last month, its biggest jump since May 2009. A combination of Federal Reserve action, risk-on attitude, and optimism toward COVID-19 vaccine trials pushed investors back into the stock market. Major US indexes posted their best month since 1987 and rallied out of bear market territory.  Nearly 80% of the index's members gained in April, with 10% of managers posting double-digit returns. Eurekahedge's North American Hedge Fund Index jumped 5.4%, while its European peer gained 3.5%. The index for Asia excluding Japan posted the biggest regional win with a 6.5% return, while the Japan-focus...