{"id":395934,"date":"2019-09-12T19:43:10","date_gmt":"2019-09-12T19:43:10","guid":{"rendered":"https:\/\/wncen.com\/?p=395934"},"modified":"2024-06-11T13:25:22","modified_gmt":"2024-06-11T13:25:22","slug":"bitcoin-wont-make-new-highs-until-sp-500-does-fundstrat","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-wont-make-new-highs-until-sp-500-does-fundstrat\/","title":{"rendered":"Bitcoin Won’t Make New Highs Until S&P 500 Does: Fundstrat"},"content":{"rendered":"

Bitcoin might have outperformed the S&P 500 index on a year-to-date scale, but the cryptocurrency would need to rely on the US equity benchmark to establish its all-time high, according to Thomas Lee of New York-based Fundstrat Global Advisors<\/a>.<\/p>\n

The co-founder on Thursday discussed the similarities between the trends of bitcoin and S&P 500 over the past decade. He stated that the cryptocurrency performed better whenever the index was 15 percent up from its 2009 average. At the same time, a depressive S&P 500 saw bitcoin underperforming, barring the year 2015, as shown in the chart below.<\/p>\n