Today, Monday 15 May 2023, the price of Bitcoin is recovering slightly.
To understand what is happening these days, it is possible to compare Bitcoin’s price trend with that of the Dollar Index (DXY), which is the index that measures the strength of the US dollar against a basket of the world’s other major fiat currencies.
Until 7 May, there seemed to be no correlation between the performance of the two curves, but as of last Monday an inverse correlation seems to have returned.
It is worth mentioning that there has often been an inverse correlation between these two curves at certain times in the past, but it does not appear to be lasting over time. For example, over the past 30 days the Dollar Index has almost always lateralized between 101 and 102, while the price of Bitcoin first fell from $30,000 to $27,000, then rebounded to $29,000 before falling below $27,000.
Bitcoin price news: the recent inverse correlation
This period of apparent decorrelation seems to have end
We współpracy z: https://en.cryptonomist.ch/2023/05/15/bitcoin-price-rebound/
