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Bitcoin Is Tracking The S&P 500 Closer Than Ever, A Strong Sign Of The Market Maturing
Summary: Bitcoin's correlation to the S&P 500 has held at record levels over the past three days, according to data from Coin Metrics. The measurement that tracks the relationship between two assets — realized correlation — hit 0.367 on Thursday, July 9. While this isn't an especially high correlation value, the monthly realized correlation between Bitcoin and the ...
Bitcoin's correlation to the S&P 500 has held at record levels over the past three days, according to data from Coin Metrics.
The measurement that tracks the relationship between two assets — realized correlation — hit 0.367 on Thursday, July 9. While this isn't an especially high correlation value, the monthly realized correlation between Bitcoin and the S&P 500 hit 0.79 on Wednesday, July 8.
Kevin Kelly, former equity analyst at Bloomberg and co-founder of cryptocurrency research firm Delphi Digital, said that higher correlations to traditional assets are an indicator that crypto assets are maturing in an interview with Coindesk. He predicted that the trend will continue.
By Emily Mason
Tags: Bitcoin,S&P 500
Link: Bitcoin Is Tracking The S&P 500 Closer Than Ever, A Strong Sign Of The Market Maturing [Copy]
