Correlation between business cycle and BTC price

0

I would like to know if there is a correlation between business cycle and Bitcoin price, whether it is negative or positive.

I am wondering because Bitcoin is deemed as commodity in my country's law, and commodity prices tend to have strong correlations with business cycles. (i.e. gold, oil, ...)

Any suggestions or evidence?

Sung Cho

Posted 2014-11-17T22:54:50.207

Reputation: 223

1Bitcoin might be considered a commodity by your country's law, but that sure doesn't mean it acts like one. – Greg Hewgill – 2014-11-17T23:38:23.600

I suspect that it would be much more strongly correlated with the amount of media attention it gets. – Nick ODell – 2015-05-19T03:07:53.143

Answers

1

There was an article a while ago, probably CoinDesk but I can't find it at the moment. Basically the study concluded that Bitcoin never sleeps. Overall trading volume doesn't correlate with open/close times in any particular timezones. If volume doesn't change with the time of day I don't think the price will either.

George

Posted 2014-11-17T22:54:50.207

Reputation: 586

Asked: 2014-11-17T22:54:50.207

Viewed: 176 times

Active: 2015-06-18T01:39:08.803