Correlation Between Bitcoin Price and Mining Companies Hits Rock Bottom: “Here Comes the Next Wave”

Cryptocurrency analysis company Alphractal stated in its latest assessment that the correlation between the market values of Bitcoin and crypto mining companies is gradually decreasing. The company argued that this drop was a signal that often occurs ahead of significant volatility or trend change in Bitcoin price. Alphractal made the following statement in his statement: “When the correlation between Bitcoin and mining companies drops, it is usually a strong indicator of impending market volatility. The weaker the correlation, the stronger this signal becomes.” Related News: Big Bull Anthony Scaramucci Drops a Bold Prediction: “I Think It Will Surpass Ethereum” The company noted that Bitcoin miners are the most established elements in the crypto ecosystem, and that they currently hold more BTC than all ETFs combined. It was stated that this situation reveals the impact of miners on the market and their long-term experience. Alphractal added that mining companies’ stocks are more highly correlated with Bitcoin than any other index and stocks worldwide, warning investors: “It is vital to keep all things mining on your radar.” *This is not investment advice. Continue Reading: Correlation Between Bitcoin Price and Mining Companies Hits Rock Bottom: “Here Comes the Next Wave”

Source: BitcoinSistemi