Joining the ranks: Bitcoin’s correlation with gold and stocks is growing

Joining the ranks: Bitcoin’s correlation with gold and stocks is growing

imageCryptocurrency53 minutes ago (Jun 18, 2021 11:40AM ET)

Joining the ranks: Bitcoin’s correlation with gold and stocks is growing

Bitcoin (BTC) is an uncorrelated asset, or so the narrative used to go. For much of Bitcoin’s lifetime, it existed as something of value to a very small group of people. Now, awareness and demand are accelerating rapidly. So, what does this mean for the status of BTC as a supposedly uncorrelated asset?

That Bitcoin was an uncorrelated asset isn’t just conjecture — the numbers back it up. According to data compiled by VanEck in early 2021, there was almost no discernible pattern between the movements of Bitcoin and other markets, including S&P 500, bonds, gold, real estate and others, for the period 2013 to 2019.

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Joining the ranks: Bitcoin’s correlation with gold and stocks is growing

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