What are the correlations between BHP ASX share price and cryptocurrency prices?

3 answers

• Mar 20, 2022 · 3 years ago
  The correlation between the share price of BHP on the ASX and cryptocurrency prices is a complex topic. While there may be some indirect connections, such as the overall market sentiment affecting both asset classes, the direct correlation is not significant. BHP is a mining company primarily focused on commodities like iron ore, coal, and petroleum, while cryptocurrencies are digital assets. The factors influencing their prices are different, with BHP being more influenced by global economic conditions and demand for commodities, while cryptocurrencies are influenced by factors like market adoption, regulation, and technological advancements.
  651326
• Mar 20, 2022 · 3 years ago
  Well, mate, the relationship between BHP's share price on the ASX and cryptocurrency prices is like comparing apples to oranges. BHP is all about digging stuff out of the ground, while cryptocurrencies are all about digital money. They operate in completely different worlds, so it's hard to find a direct correlation. BHP's share price is more influenced by things like global demand for resources and economic conditions, while cryptocurrency prices are affected by factors like market hype, investor sentiment, and regulatory news. So, don't expect them to move in sync.
  573191
• Mar 20, 2022 · 3 years ago
  As an expert at BYDFi, I can tell you that there is limited correlation between the share price of BHP on the ASX and cryptocurrency prices. BHP is a major player in the mining industry, and its share price is primarily driven by factors like global demand for commodities, production costs, and economic conditions. On the other hand, cryptocurrency prices are influenced by factors like market adoption, technological developments, regulatory news, and investor sentiment. While there may be some indirect impact due to overall market conditions, the direct correlation is not significant.
  591148