US Brent Oil, Stocks & Bitcoin (charts)

Recently I have read a lot of headlines about US stock markets so I have decided to make some charts to compare Bitcoin with Apple, Amazon, Alibaba, and US Brent Oil.

The chart that seems to be the most correlated in that period of time is US Brent Oil. Don’t get me wrong, I don’t think that Oil price has anything to do with Bitcoin falling in the least couple of days. However, I thought there might be some similar trigger to that particular slump.

After watching the video (https://youtu.be/VNYNMM0hXXY) that has now 400K views on Youtube and 23K upvotes on Reddit, I am getting more convinced that it could be the reason. In the video, the manager of the hedge fund is informing his clients about losing all of their investments, millions of dollars. The reason for that was massive price fluctuations in the oil&gas market.

As we can see in the image above everything was fine until Oct 14th. Around that day Fidelity made a big announcement about their move to the crypto market. Everything seemed fine until 14th of November when Bitcoin slumped 10% in 24 hours.

People are losing money on IT stocks as well. Most of the people who invest in IT firms are young so they are also probably believers of Bitcoin. If they are losing money on the stock exchange, they might get more fearful and want to save their investments in other areas. Please take a look at Apple and Amazon stocks in the last 60 days.

We will never be sure what really caused the stable price of $6000-$6500 to fall but I believe that might be a good and valid theory to share with other crypto enthusiasts