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Wednesday

21 October 2020

Bitcoin decouples from legacy markets as ‘breathtaking’ rally predicted

Bitcoin decouples from legacy markets as ‘breathtaking’ rally predicted


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A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken.

Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S.

The report notes that while the start of the month saw an 8-month low for correlation between BTC and the S&P 500, the correlation would later increase as both markets experienced sideways consolidation.

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cointelegraph.com
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