Bitcoin Becoming Less and Less Correlated with Alts and Practically NO Correlation With The S&P 500
I was looking at the 90-day cryptocurrency correlation matrix on SifrData and saw that Bitcoin is becoming less and less correlated with the alts. This is a 90-day average though, because I think if we would look at the data of the last 30 days, the correlation is probably even lower for most alts.
Also interesting is the practically non-existent negative correlation between BTC and the S&P 500. I am very curious what kind of correlation we will see when the stock exchanges crash ;-)
What do you think?
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Yes that would be a dream come true when alts are not correlated with Bitcoin.
I think things will change drastically when an alt take over Bitcoin.
I remember during the BCH rise, All Alts & Bitcoin were going down
And at the time I did not have any BCH and just one coin was literally ruining the entire market place making it go all Red ! lol
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