Chips And Price Dips
Bitcoin, a cryptocurrency that seemingly can’t help but draw breathless speculation from financial experts, may finally have a basis in our tangible reality.
And it’s avocados.
Bloomberg analyst Tracy Alloway first noticed the trend, tweeting a graph that shows a striking similarity between the rises and falls of Bitcoin and, well, avocado prices. As Decrypt reports, the correlation has held up strikingly well over time.
*BITCOIN DROPS TO LOWEST LEVEL SINCE JUNE
The avocados told me this would happen. pic.twitter.com/5rOyE3Ohak
— Tracy Alloway (@tracyalloway) October 24, 2019
A brief moment of clarity: the Bitcoin/avocado link is almost certainly a fluke. It’s probably one of those bizarre statistical coincidences, like how per capita cheese consumption in the U.S. has a nearly-perfect correlation with the number of people who die after getting tangled in their bedsheets.
As Decrypt reports, the Trump administration’s policies and tariffs against Mexican imports could soon have a major impact on the avocado market — so we’ll have a fresh chance to see if the popular cryptocurrency somehow goes with it.
READ MORE: What is it with the price of Bitcoin and avocados? [Decrypt]
More on avocados: Edible Coating Can Keep Food Fresh Longer and Cut Down on Waste