Most Cryptos Correlated with Stocks, Not with Gold – Analysts

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Most Cryptos Correlated with Stocks, Not with Gold – Analysts

   Algorand Altcoin News Avalanche Bitcoin bitcoin cash Dogecoin Ethereum Investing Litecoin Shiba Inu Solana Stocks Trading Uniswap    November 12, 2021  |  0

Bitcoin (BTC) had no positive correlation with the traditional inflation hedge gold during the past 60 days, and has instead developed a weak positive correlation with the US stock market, a new report from the crypto-focused financial services firm BitOoda has found.
The correlation between the largest cryptocurrency and the S&P 500 stock index stood at 22% for the past 60 days, according to the report….
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