The correlation between Bitcoin and the US Dollar Index and stock markets has all but disappeared, according to data analysis. While Bitcoin still remains volatile, its relationship with traditional markets has now become almost independent.
After long-term correlation with the S&P 500, the world’s largest digital asset – Bitcoin – has suddenly broken away, signaling a newfound independence. Amidst new trends, investors are watching carefully to evaluate bitcoin’s potential.
Bitcoin has recently seen its correlation with US equities hit a two year low signaling that the digital currency could be headed for a bull market This shift could indicate a new wave of investment in the cryptocurrency