Since January 2016, the stock market has shown the worst result during this week. Just over this week, US stocks fell for about 6%, European stocks – for about 4%. The cryptocurrency market showed a decline, as well, with bitcoin drop for about 35%.
There are reasons to believe, that stock market dropped because bitcoin performance wasn’t the best this week. Let us remind, that last year when the cryptocurrency prices were surging, the stock market benefited from that greatly.
Indeed, the bitcoin price movement influences many aspects in the market, including the stock prices, but this influence is marginal. The decline in the stock market is also conditioned by the global economies, maybe even more than just by the bitcoin.