of Cryptocurrency Price Correlations
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- For the past year, it has been a lingering curiosity amongst observers of the cryptocurrency market that the price movements of coins are highly correlated during large swings. This is of particular fascination for lower market capitalization projects that seem to differ significantly in quality yet often move together.
No sh*t sherlock!
This publication is actually about technology...it has no social bias that I have seen. I've been following it for quite a few months. For example it says.
- On-ramps/off-ramps mostly limited to fiat/BTC and fiat/ETH pairs: Most cryptocurrencies other than Bitcoin and Ethereum cannot be bought directly with fiat currency, like dollars. Instead, investors must first buy BTC or ETH and can then exchange one of these for the desired cryptocurrency.
How long have WE been saying that?
A fairly good critique if a bit short. It doesn't mention FOMO or FUD...but perhaps that would be too much to expect.
Say, you have some coins xyz and you want to change it to steem. You need to look for a market first, that provides a xyz/ETH pair. Or btc or Doge. Then you look for the next market i.e. blocktrades to get steem. Annoying...
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Equity and bond markets are nothing but manipulated financial instruments. there is no equity or bond market , just the appearance of one..
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Life gets to increase and sometimes decrease in many ways, when it on your cute, face it well and be great boss..
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