​​COVID-19 is now one of the most important factors affecting financial markets. Over the past two months, we have seen…

​​COVID-19 is now one of the most important factors affecting financial markets. Over the past two months, we have seen an increase in the correlation between Bitcoin and the S&P 500 due to the lack of liquidity in the private sector.

Both assets have currently lost more than 20% in price. For two months, Gold had a lower correlation and a greater divergence with Bitcoin than the S&P 500. Bitcoin, as usual, was more volatile and in a month, lost more than half its value — after which it quickly recovered.