Wells Fargo & Co (NYSE:WFC)’s head of equity strategy, Christopher Harvey recently said that if the bubble of bitcoin bursts there is a possibility that the market may as well go down with it. The strategist it seems sees a correlation between the two and thinks that assessing risks plays a key role in determining the stock market as well as the cryptocurrency movement.

During an interview, Harvey said that what everyone saw recently is that all risk products sell off and a hit on the market can make investors panic leading to fast bitcoin-selling spree.  Harvey said that such things at times add fuel to the fire. The Wells Fargo strategist said that the market saw a money chasing performance – as volatility shot up the demand for liquidity grew massively.

Then at the start of the week, the Dow Jones industrial average dipped 1,175 points by the end of the day and simultaneously Bitcoin too plunged to its lowest points in the last couple of months trading at $5, 947.40. According to Harvey, the best gauge for predicting the movement for future market and the digital currency price is simply by assessing the risk.

 Californian Treasurer Gets Aggressive At Wells Fargo

 John Chiang, the Californian Treasurer told the company that he will “raise holy hell” if the bank fails to oust the four directors from the board that he does not want. Chiang threatened the bank that he will take this action at the annual shareholders meeting of 2018. A few days ago Federal Reserve decided to cap the growth of the bank and also ordered ousting of the four directors by the year-end.

However, the bank is yet to identify the three board members who will be exiting by the end of April as well as the other director who should be leaving by the year-end. Chiang’s statement seems to be in direct reaction to this inaction on the part of Wells Fargo.