For bitcoin, boring is the new normal - Quartz
Compared to its stunning rise two years ago, when bitcoin’s price vaulted to $20,000, the crypto market now looks sleepy. “The overall crypto markets have a tendency to be event-driven, and in the past few months there hasn’t been news to send prices moving meaningfully,” Andy Bromberg, president of CoinList, a startup that enables crypto-based fundraising, surmised to Quartz.
“What’s interesting is that bitcoin is becoming less correlated with the rest of the crypto market, an indicator of how its narrative, value, and popularity are emerging even more strongly,” he said. “Because of bitcoin’s decreasing correlation, there’s a reasonable chance that the next time the market moves, it will be either bitcoin or the rest of the market, not both.”