Cryptocurrency Analysis and News Portal
Quick take:During bull markets, patterns tend to emerge between Bitcoin (BTC) and individual altcoins.In the case of VeChain, VET has proven to have a very low correlation to Bitcoin compared to others such as Ethereum and Litecoin.The VET/BTC provides a good visualization of this fact.Many crypto traders and investors across
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Lately, Bitcoin price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the S&P 500 and BTC reached a new all-time high. Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric
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Bitcoin’s one-year correlation to the Standard & Poor’s 500 index hit record highs as the leading cryptocurrency continues to trade in lockstep with traditional financial markets. The realized correlation, which measures the relationship between two assets, reached 0.367 on Thursday, up from -0.06 on January 1, according to data from Coin
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Ever since its inception, bitcoin has been dubbed “digital gold,” given it is durable, fungible, divisible and scarce like the precious metal. However, while gold has a strong track record of rallying in times of stress in the global equity markets, bitcoin is yet to build a similar reputation as a
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Few investors ever get into bitcoin hoping for stability, but over the past eight or so weeks that’s pretty much what they’ve got. Since the start of May, bitcoin’s price has rarely strayed outside its $9,000 to $10,000 range. Occasions where it has crossed the $10,000 boundary, or sunk beneath $9,000
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The U.S. stock market fell over 6% after the Fed’s balance sheet started to contract. The correlation leaves equities vulnerable to a steep correction if the Fed slows down its asset purchases. The addition of 30,000 new virus cases in the U.S. on a single day may put even more pressure on
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The stock market appears unstoppable as summer begins. But it’s floating on a sea of Fed liquidity with all other assets. Several strategists warn markets are at risk of a significant bubble forming. Despite the calamitous events of this year, the stock market is roaring back. The Dow Jones and S&P 500 are well
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Bitcoin price could hit $18,000 if it continues to maintain its positive correlation with the S&P 500, says mysterious analyst PlanB.The creator of the popular stock-to-flow model highlighted a 95 percent r-squared correlation between the two assets.He added that the global central banks’ unprecedented quantitative easing policy serves as a
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With Ethereum 2.0 on the works, the debacle about where this cryptocurrency is headed next has intensified. Some of the most prominent analysts in the industry argue that it could serve as the catalyst for a new bull run. Meanwhile, there are others who maintain that a major correction is
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Bitcoin closed above $9,700 in hopes to wipe out its pre-halving crash amidst growing risk-off demand.The cryptocurrency broke its short-term correlation with the S&P 500 after the Federal Reserve gave a grim economic outlook.Instead, the BTC/USD exchange rate surged alongside its safe-haven rival Gold.Bitcoin extended gains a day after downplaying
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