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Do Not Pray for an Economic Crisis!

The increased value of Bitcoin has been greatly benefited by increased value of the S&P500. When the S&P goes up, companies do well, people have good jobs and make money. So it makes easier for those people to invest in something speculative like Bitcoin . If there is an economic disaster and people are losing their jobs, you'll probably see people selling their Bitcoin instead of having more coins. Because what are you going to buy Bitcoin with? 
If you have some Bitcoin , but you have to put food on the table, you may have to sell Bitcoin in order to do that. 

It's hard to deny that there is some correlation between S&P500 & Bitcoin 

Bitcoin had an amazing bull run from early 2016 up until the very end of 2017. And take a look at the stock market: that was a 55% rise in the stock market from January 2016 up into the high in January of 2018. Bitcoin did extremely well on this S&P500 run up.