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This is noise. If you start looking around for arbitrary financial timeseries that track one another over a short period, you will find spurious correlations. I
by minimax 13y ago
This is noise. If you start looking around for arbitrary financial timeseries that track one another over a short period, you will find spurious correlations. I especially appreciate the author's thesis about the cause:
Historically, the US dollar has served as a risk-averse asset, gaining value as traders pull out of other financial products during periods of uncertainty and doubt. Bitcoin seems to be following the same path.
Yes, bitcoin is definitely right up there behind USD as a low risk asset. Uh huh.
- CrunchyJams 13y agoIt's not a low risk asset. It's an alternative asset that for the last few months has been used in risk-off periods. There's a difference. Judging by the last sentence of the article, I don't think he expects it to continue trading like that.
- minimax 13y agoYou seriously think that people are selling their risky assets and then putting that money in bitcoins?