Correlation in Crypto is breaking down

Well, it is certainly lower than it's been.

Positive correlation anyways.

Check out the chart:

(Source:  https://twitter.com/fomomasternode/status/1120722294098120705 )

Historically when this correlations dropped it meant it was a good time to be in alts.

However, alts got trashed yesterday.

Perhaps it is more of separating the wheat from the chaff.

Unfortunately steem seems to be the chaff at this stage.

Barely hanging on to the top 50's on coin market cap.

Ugh.

I thought it bitcoin went up, it would be good for steem.

I guess I thought wrong.