Bitcoin and Avocado Correlation Revealed

Predict the movement of any financial rateThousands of analysts from around the world are trying every day. Particularly profitable may be the correct forecast of highly profitable and fashionable bitcoin, which recently turned 11 years old. Forecasting techniques range from rigorous methods of technical analysis to frivolous trading on the phases of the moon.

Bloomberg analyst Tracy Allowayput forward her own hypothesis by posting on Twitter charts of changes in the price of bitcoin and the cost of avocados. Surprisingly, both charts show an almost 100% correlation, which surpasses even the traditional correlation of the price of gold with “digital gold” - bitcoin.

Of course, such a coincidence is random andthe analyst simply noticed price-related charts. However, it is known that in the modern world any phenomenon can be explained. Therefore, comments immediately appeared on the net stating that bitcoin and avocados were popular products among the millennials, who experienced winter boredom and turned to the high-risk bitcoin trade, and winter avitominosis prompted them to actively buy avocados.

So the rise in the price of bitcoin in April was initiated- June 2019 from 3 thousand dollars to more than 13.5 thousand dollars. In the summer, the profitable Millennials left the cryptocurrency trade, and the avocados replaced summer fruits and vegetables.

Prank jokes but after trumpinitiated duties against Mexico, which supplies the United States with 75% of avocados, in late autumn we can expect an increase in its price or a minimum of high fluctuations in the cost of avocados. Meanwhile, in late September, Bitcoin has already begun its rapid growth and has risen in price in one day by more than 3 thousand dollars. Now we expect movement in the avocado market.

Source: decrypt