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31 July 2021

Decoupling ahead? Bitcoin and Ethereum may finally snap their 36-month correlation

Decoupling ahead? Bitcoin and Ethereum may finally snap their 36-month correlation


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Anish revealed that he had allocated about 80% of his investment portfolio to Bitcoin (BTC) and Ether (ETH) with the rest of his capital distributed across Polygon, Dogecoin (DOGE), and Chainlink (LINK).

On the other hand, Liam Bussell, head of corporate communications at fiat-to-crypto gateway provider Banxa, called Bitcoin and Ethereum liquidity backstops for crypto traders.

In his comments to Cointelegraph, the executive said that traders utilize their initial gains in the top two cryptocurrency markets to invest in mid and lower-cap digital assets, citing rallies in Dogecoin and across non-fungible token projects.

Additionally, Peters advised traders and investors to counterbalance their crypto investments risks by allocating a good portion of their capital in traditional financial instruments, including stocks, commodities, and fixed-income securities/funds.

Peters meanwhile reminded that the Ethereum network's transition from proof-of-work to proof-of-stake—known as Ethereum 2.0—might limit its correlation with Bitcoin.

"It's possible that a decoupling could occur between bitcoin and ether following the completion of the transition to 2.0 as the 'tokenomics' — how ETH works on the 2.0 blockchain will be different to at present," said Peters, adding that:

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