The Bitcoin Price And Macroeconomic Correlations
A look at how macroeconomic volatility spikes are impacting the bitcoin price.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.This Daily Dive will touch on some of the recent macro trends and correlations in the BTC market. If you haven’t read this recent thread on the bitcoin market, check it out.In Friday’s Daily Dive, with bitcoin below $40,000, we noted to keep an eye on the VIX, as risk assets....
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If you know about bitcoin, then you will be familiar with its ever fluctuating price. Have you ever wondered what causes these price fluctuations? Is it something to be worried about? Also, what does the future hold for bitcoin? It is assumed that the value of bitcoin is directly dependent on its use for transactions. It is believed that an increase in bitcoin transactions increases its value. But a working paper published by Hong Kong based Bitquant Research Laboratories begs to differ. Bitquant is a company involved in R&D supporting high risk/high reward open source financial systems.....
Dr. Aaron Yelowitz, an associate Professor and Director of Graduate Studies in the Department of Economics at the University of Kentucky, has released a paper analyzing Bitcoin and its users with search trends using Google Trends. As Kristoufek demonstrated in his paper, there is a strong, positive correlation between Bitcoin searches and exchange prices. Yelowitz and Mathew Wilson take things a step further and find correlations between users and interest in Bitcoin. Based on "anecdotal evidence" in regards to Bitcoin users, Yelowitz constructed proxies for four possible users: computer....