Maybe it's no coincidence that stock market prices surge upward the same time Bitcoin flexes its pricing muscles.

Or is that a misleading conclusion?

Here's the deal. A recent report from Nautilus Investment Research states that Bitcoin and the stock market actually feed off one another, pushing prices forward on both sides again and again.

In an August 7 Twitter blast, Nautilus stated that "Bitcoin and SPX (the S&P 500 index) are trading together year to date, and that "Bitcoin rate of change acceleration drives SPX returns." Nautilus specifically notes that every time Bitcoin prices appreciate by 30%-or-more in a month, stocks rocket skyward, as well, after a few months.

(Here's the chart Nautilus cites as proof that Bitcoin and the stock market are correlated. The company's report used 18 variables and tracked data back to 2010, when Bitcoin was in its infancy.)

While the Nautilus reports there is a correlation, it doesn't exactly state why that correlation exists. One theory is that, with Bitcoin's market cap at $55 billion and the fact that it's trading at $3,380, the sheer amount of money on the table may have an impact on stocks that are linked to Bitcoin, thus driving up prices.

But most Wall Street professionals aren't buying that argument.

"Starting with the most obvious, the size disparity between U.S. stocks and Cryptocurrency markets is massive," says Zach Hamilton, managing partner of General Crypto. "Stocks traded on the New York Stock Exchange alone are worth more than $120 trillion in U.S. dollars, while the total global value of all cryptocurrencies in existence is just over $120 billion."

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