Do the Avocado price and the bitcoin price correlate? Images from Shutterstock. Edited by CCN.
Bloomberg’s Tracy Alloway pointed out the comical correlation on Twitter. After noticing that the price of bitcoin and Hass avocados started uncoupling, she joked, “Sell everything.”
You Have Guac to be Kidding me
Alloway attached a chart that appears to show an uncanny correlation between the price movements of the tasty green fruit and the original cryptocurrency from January until this week.
Bitcoin/Avocado correlation is dead. Sell everything. pic.twitter.com/JKr6nGePsr
— Tracy Alloway (@tracyalloway) August 15, 2019
Crypto Twitter reacted in typical hilarious fashion. One person quipped that it seems “like avocados were a leading indicator.”
Looks to me like avocados were a leading indicator
— panek (@panekkkk) August 15, 2019
Another person joked that he thought “avocados were a safe haven.”
I thought avocados were a safe haven.
— joey (@Joeryegun) August 15, 2019
Bitcoin-Avocado Prices have Mirrored Each other for over a Year
Petrit Selimi, the former Foreign Minister of Kosovo, spotlighted an even longer time horizon.
Selimi’s Twitter chart shows that the bitcoin-avocado price correlation dates all the way back to June 2018.
Surprisingly, this is not the first time that someone at Bloomberg noticed the correlation. Maybe Bloomberg has a guacamole fetish.