Gianluca Benigno and Carlo Rosa, authors of the research, described the unhook as puzzling since most speculative assets were subject to U.S monetary policies. The authors concluded that,
“Our analysis instead shows that, while other US asset prices respond to both the target and the path of monetary policy news, Bitcoin is unresponsive to unexpected changes in the short-term rate while its reaction to news about the future path of policy is not robust.” But the conclusion might sound too hasty. Nonetheless, the happenings in the last four months, coupled with the BTC reaction to future policies might determine if the correlation would continue to exist or not.Subscribe to get it daily in your inbox.
Source: Digital Coin News (digitalcoinnews.net)
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