Bitcoin Price Outperforming S&P 500 in December
The relative performance of the Bitcoin price and S&P 500 index has been comparatively better than what it was on Wall Street this December.
Bitcoin had a bullish correction after falling almost 85% from its all-time high near $20,000. The price at the beginning of December established an interim bottom level at $3,127 before jumping towards its monthly high near $4,237. It corrected to almost 35.5% level.
The S&P 500 was already undergoing a downside correction after establishing its 52-week high at 2,940.91. In December, the index noted ten daily selling sessions during mid-term causing a crash of almost 20% from the recent peak, its lowest since April 2017.
The S&P 500 generally slumped 19.8% by Tuesday from its September 20 record . The Nasdaq and the Dow depreciated 23.3% and 18.8% respectively from their record of August 29 and October 3.