Bitcoin trading shows a strong link with gold. Who is to blame?
Source:
The Wall Street Journal notes that in the last few days is heavily correlated with traditional asset markets. Citing data from research firm Excalibur Pro Inc, the publisher said that in the last week the index of correlation cryptocurrency with gold is 0.84. That is, the index parameter of -1 indicates a complete inverse, and + 1 for full correlation. Moreover, Bitcoin is trading with an index of correlation of 0.77 against the Chicago Board options exchange (VIX), a benchmark index of volatility of the US stock market.
The Article in WSJ is no longer just about the unexpected performance of the main crypto-currencies with global stock markets, but also explains why you could form such a model.
the-
the
- the First is the influx of institutional money cryptoprotection. Thus in the example of the Fund's Investments Grayscale.
According to the article, in the first year [2013], the trust Fund has raised 51 million dollars in assets under management (AUM). By the end of 2017 at the peak of the stock market, this figure had already reached $ 3.5 billion. However, due to the so-called Fund managed to save 900 million under management.
the - As another factor in the article of venture capital [VC]. Despite the fact that in 2013 venture capital investments in Bitcoin and blockchain-sector amounted to about 96 million by 2016, the figure rose to 500 million, and in 2017 the total amount of this type of capital Cryptoprotected for $ 2 billion. At the time of writing, figures for 2018 are still missing.
As noted by Cointelegraph, the pull factor of traditional capital in the crypt is the development of trading services and infrastructure with high regulatory compliance. It is also noted the launch of cryptocurrency futures and ETF attempts at cryptocurrencies.
Recall that the current rate of coins can be found in our classroom .And even more data to search for .
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