Bitcoin’s explosive gains could spell good news for stocks

#Bitcoin's explosive gains could spell good news for stocks

  • REUTERS/Lucas Jackson

    Bitcoin is trading at a record high on Monday, up 3.92% at $3,356 a coin.

  • These kinds of astronomical gains in bitcoin, it turns out, are correlated with a strong showing by stocks too, according to Nautilus Investment Research.
  • To be more specific, the firm says that of the 18 previous instances when bitcoin returned at least 30% in a month, the S&P 500 was higher 15 times two months later and 17 times three months out, averaging gains of 3.61% and 4.66%, respectively.
  • Nautilus doesn’t offer a reason, but it does note that it could just be that bitcoin is a “barometer for animal spirits in the markets.”
  • In other words, when traders are going nuts about a highly-speculative investment like bitcoin, that same risk-loving attitude might turn up among the folks who trade stocks.

Bitcoin is trading at a record high on Monday, up 3.92% at $3,356 a coin. It has gained…
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UK financial services will flourish despite Brexit challenges

#UK #financialservices flourish despite #Brexit  #London #EU #Payments #Bitcoin #finance #VC

  • Big decisions are being made in the UK’s financial services industry this year and they are not all about Brexit.
  • The regulatory agenda continues to drive massive change, not least the rules on ring fencing.
  • The digital and financial technology agenda, open banking, changing pension rules and ever increasing competition are also front of mind.
  • Expectations of financial services providers from customers – be they consumers or businesses – continues to rise at an insatiable pace.
  • These decisions will be made against the backdrop of an economic outlook for the UK that is certainly encouraging.

Big decisions are being made in the UK’s financial services industry this year and they are not all about Brexit.
Continue reading “UK financial services will flourish despite Brexit challenges”