According to a new report published by cryptocurrency data aggregator CoinGecko, several interesting anomalies surfaced in cryptocurrency markets during the third quarter. Although the digital asset industry witnessed heavy sell-offs earlier this year, its overall market cap increased by around $100 billion compared to Q2.
While in the past, crypto bear markets have largely decoupled from stock performance, coins and tokens traded almost in exact tandem with the U.S. S&P 500 Index in Q3. The correlation coefficient, which ranges between 0 and 1, for the performance of the S&P500 versus cryptocurrencies stood at 0.85 in the said time period.
Additionally, even though Bitcoin's value saw a 1% drop during Q3, it actually outperformed every single asset class aside from the U.S. dollar Index, which measures the exchange rate of a basket of foreign currencies compared to the U.S. dollar. During times of economic uncertainty, investors worldwide typically flood to safe-haven...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...