[Bitcoin’s one-month correlation to the S&P, for example, reached a multi-year high of 0.79 on Wednesday, according to data from Skew, indicating a much stronger short-term correlation trend as levels of investor uncertainty and expected volatility remain high. Analysts expect the trend to continue and even strengthen.
Bitcoin’s strong performance from March lows has fueled demand to buy and trade bitcoin, even with the coronavirus pandemic battering the economy. Investors are increasingly looking for inflation hedges like gold or bitcoin amid aggressive expansionary monetary policy, which has also pushed equity prices higher at the same time.] Collect from Source1 Article
Analyzing something. The people who are new in the bitcoin world they say that the bitcoin is now boring. But the people who deeply know about the bitcoin. They analyze and compare with the past and then realize that bitcoin is on the right way.
Source1: https://www.coindesk.com/bitcoin-reaches-record-high-correlation-to-sp-500
Read this article 4 days ago.
Source: https://www.coindesk.com/market-wrap-as-traditional-markets-rally-bitcoin-gets-boring
