Cryptocurrency Analysis and News Portal
The financial media often points out Bitcoin’s (BTC) correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC's often acute inverse-relationship with the United States dollar. But are these correlations set in stone, and can they be useful for predicting future price moves?
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The 90-day rolling correlation between bitcoin and Nasdaq, S&P 500 is now at the lowest level observed since July 2021, according to data tracked by crypto derivatives analytics firm Block Scholes. Source
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The collapse of FTX and related developments did more to pull up or push down the price of Bitcoin (BTC) throughout Q4, compared to macroeconomic events such as rate hikes, according to research.In a “State of Bitcoin Q4 2022” report published on Feb. 10, Messari research analysts Sami Kassab and
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Since June 2020, bitcoin went from $9,500 to today's price of $19,500 over a 100% return. In comparison, the S&P 500 went from 3,000 to 3,700, slightly over 23%. Bitcoin bought prior to the monetary expansion has outperformed other major asset classes, even today after a more than 70% decline
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Bitcoin is a macro asset in that it is now part of the global market. But not all macro assets are highly correlated. As fear subsides (which it will, one day), given the distinct value propositions of equities and crypto, we are likely to see correlations head back to lower
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The recent pullback in the cryptocurrency market shows that mainstream adoption can be a “double-edged sword,” Goldman Sachs said in a report Thursday.Since November, the bank notes, the total crypto market cap has fallen around 40%. The slide is unique in that it was driven mainly by macroeconomic factors, that
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