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thanks, should have thought of that
well starting from jan 2014, the bitcoin price goes up vs dow and bitcoin dips under the dow's gains in february
bitcoin then never recovers.
Dow hits 0% against itself just today
so why bitcoin crashing when market crashing too?
Market panics tend to lead to increased purchasing of safer instruments, namely gold and bonds. Take a look at how the US 10 year note and gold move in the opposite direction of the Dow, BTC, and USD.
The Dow seems to be following the US Dollar Index closely now, which makes sense because a lot of the current market volatility is due to the recent Chinese Yuan devaluation and worries about the decreased productivity #s coming out from China. Frankly, in this current market the actual cause of the recent panic is most likely a move of the Fed to sell some notes (note it has spiked the highest against the other drops).
Market manipulations aside, BTC's most recent drop has been on TINY volume and the price just found support on the all-important 217-day moving average (Weinstein's moving average)..that plus its' RSI levels and recent bullish MACD cross would have me a buyer right now as its' poised for a jump.