Joining the ranks: Bitcoin’s correlation with gold and stocks is growing By Cointelegraph – Investing.com
- Date: 20-Jun-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Joining the ranks: Bitcoin’s correlation with gold and stocks is growing By Cointelegraph – Investing.com
(BTC) is an uncorrelated asset, or so the narrative used to go. For much of Bitcoin's lifetime, it existed as something of value to a very small group of people. Now, awareness and demand are accelerating rapidly. So, what does this mean for the status of BTC as a supposedly uncorrelated asset?
That Bitcoin was an uncorrelated asset isn't just conjecture — the numbers back it up. According to data compiled by VanEck in early 2021, there was almost no discernible pattern between the movements of Bitcoin and other markets, including S&P 500, bonds, gold, real estate and others, for the period 2013 to 2019.
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