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3.30.20
Avocoin

There’s a Correlation Between the Price of Bitcoin and Avocados

October 26th 19__Dan Robitzski__Filed Under: Future Society
Marco Verch/Victor Tangermann

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.

Cryptoast

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