Bitcoin, Tesla and avocados: millennial traders are saying ‘OK boomer’

Cointelegraph

Published Sep 17, 2020 08:03AM ET

Updated Sep 17, 2020 03:40PM ET

Between Sep. 9 and 16, the price of Bitcoin (BTC) rose by over 11%. Similarly, in the same period, Tesla stock (NASDAQ:TSLA) surged from $330.21 to $449.76, by 36.2%.

Tesla stock and the Bitcoin price have seen an uncanny correlation in recent weeks. The correlation might come from the similarities between BTC price movements and the S&P 500. It also might be related to the fact that millennial traders actively trade both BTC and TSLA.

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