Frozen out? Bitcoin price correlation to other assets still undefined
Cointelegraph
Published Oct 24, 2020 10:45AM ET
Updated Oct 25, 2020 01:00PM ET
A recent report from institutional crypto firm Fidelity Digital Assets concluded that Bitcoin (BTC) shows very little price correlation to mainstream financial assets, based on data from the past five years. Over the course of 2020, Bitcoin has gained further adoption into mainstream finance, which logically might impact the asset’s correlation or lack thereof. Has Bitcoin’s correlation changed in 2020?
Ria Bhutoria, director of research at Fidelity Digital Assets, told Cointelegraph via email: “Bitcoin has experienced higher positive correlations to other assets over shorter time periods, especially during periods of uncertainty and turbulence, and even prior to 2020.”
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Written By: Cointelegraph
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