Bitcoin "Drug" by Nasdaq falls below 40,000! The correlation coefficient with the Nasdaq has increased by more than 0.4

The Nasdaq 100 indicator opened lower and lower on Thursday, and the Nasdaq Futures extended gains after Netflix (NFLX.US) reported bearish results.

Bitcoin also fell below the $40,000 level that day for the first time in nearly two weeks. According to the press release, Nasdaq futures fell 0.77% and Bitcoin fell 5.44%.

In this regard, some analysts believe that Bitcoin has recently proven once again that the unsecured long-term asset can be inaccurate.

Currently, the 100-day relationship between Bitcoin and Nasdaq has exceeded 0.40. Ben Emons, director of macro planning at Medley Global Advisors, said: "This relationship is vital to the healthcare industry," said Ben Emons.

However, some traders believe Bitcoin's volatility will result from rumors that the Russian Central Bank has called for a ban on cryptocurrency mining and trading. However, some analysts have argued that the crash may have a small impact on the market and Bitcoin's reputation as a unique asset will work the other way.

Diana Biggs, managing director of Canada-listed digital real estate brokerage DeFi Technologies, said there was an additional threat from the government to limit exposure to cryptocurrency, but no more for bitcoin.

"As we've seen in the past, the impact is incredible, and that's by design," Biggs said. "Bitcoin is by far the most international and designed to resist censorship. Bitcoin exists in the country. Apart from the design, I personally find it extremely appealing. I think it's good."