“Like any financial asset, crypto will suffer from broad market moves. But in particular, crypto (proxied by bitcoin) this year seems to do better during periods when tech is outperforming,” Solot said in an email. “We can see this using a ratio of Nasdaq/S&P500. This correlation may be driven by some overlap of the investor base, or simply because both assets tend to be higher beta.” Beta is a measure of the extent to which an asset moves in line with the broader market.
Related posts
-
Bitcoin miner Genesis Digital Assets eyes IPO in US: report
Alameda-backed crypto miner Genesis Digital Assets is reportedly in discussions with advisors about launching a pre-IPO... -
Crypto Analyst Says Next Bitcoin Target Is $78,700 If BTC Breaks This Resistance
An analyst explained that the next target for Bitcoin could be $78,700 if BTC could cross... -
Fundstrat’s Head Of Research Says Bitcoin Will Reach $150,000, Here’s When
Fundstrat’s head of research, Tom Lee has doubled down on his initial Bitcoin prediction, strongly emphasizing...