Last week, a Bloomberg analyst Tracy Alloway has published in his Twitter the two charts. One reflects changes in the exchange rate of bitcoin, the second shows the dynamics of prices on avocados. Data are presented from February to the end of September of the current year and the two curves wonderfully overall repeat pattern each other.
Alloway any conclusions do not hurry, it only draws attention to an interesting pattern. But how can there be a connection between avocado and bitcoin? Someone just says that it is a coincidence. For example, the dynamics of the deaths of Americans that died due to the fact that tangled in the sheets, a perfect match with the vibrations of cheese consumption per capita in the United States. If there’s at least some correlation – the issue is very controversial.
A graph of the correlation between the price of bitcoin and avocado
Others have suggested that a connection in the case of bitcoin and avocado is the place to be. For example, common fruit and cryptocurrency is the consumer is the “Millennials”, which after the winter boredom is interested in fresh fruit and manipulated cryptocurrency. It broke up the prices to year highs, but then the interest dried up, and the charts of both commodities went down. Some logic in this.
The most interesting thing to test the reliability of this connection will be possible very soon. Recently, Donald trump has introduced new restrictions against Mexico, where in the US receives 75% of the avocado, which fully hit the market this fruit in the late fall. Significant fluctuations in the price of avocado is inevitable, which will give an opportunity to test how they correlate with the status of bitcoin.
Source — Decrypt