Home Bitcoin News First Mover Americas: Bitcoin Bounces Back From 'Hurricane' Though Miners Are Selling – CoinDesk

First Mover Americas: Bitcoin Bounces Back From 'Hurricane' Though Miners Are Selling – CoinDesk

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First Mover Americas: Bitcoin Bounces Back From 'Hurricane' Though Miners Are Selling – CoinDesk


Right now, we’re in a global environment where assets are going down. That’s true across equities, bonds, broad-based futures of various kinds, crypto, and there’s a lot of macroeconomic factors going into these down moves. There’s also specific things to crypto, for example, in everything that happened with the Terra ecosystem. What we’re finding now is, as crypto gains more mainstream adoption, that means that more institutions are allocating percentage of their portfolios of crypto, which means in a down move when they’re looking for things to sell, crypto is going to be in the line of fire just like everything else. And so in a doubt, in a sort of violent downturn, all correlations go to one, everything is going down. And so right now, as prices are decreasing across the board, of course, there’s going to be high correlation between these assets. As the market starts to turn around, I think we’re going to see more growth, idiosyncratic moves between crypto and the traditional equity markets.

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