that the present price of Bitcoin is around 20% below its historical relation to other market prices. Bitcoin dipped to lows of $18,603 on June 30 before partly recovering to trade at $19,399 at press time.
Four factors—gold prices, stock market volatility, Bitcoin volatility and overall market volatility—have accounted for 88% of the price variation in Bitcoin over the past four years.is correlated to the price of gold. As both gold and Bitcoin may be used to store value untouched by inflation, it is sometimes assumed that this correlation should be positive. However, when other factors are taken into account, there is a large negative correlation.
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