Cryptocurrency Market Plumbs New Depths in A broad investor retreat has pushed the market for digital currencies down 70% from its. 16, at a.m. ET How Bosses Waste Their Employees' Time · Cryptocurrency Market Plumbs New Depths in The headline print came in weaker than forecasted with a reading of %, year-over-year, compared to expectations for % and +% in. BERNARD LANTERMAN ARBITRAGE BETTING

Similarly, both bitcoin and cryptocurrencies reached lows during February and March amid a sell-off. The ostensible reason for this is investor risk appetite , which is transferred between asset classes to avoid losses. According to analysts at Morgan Stanley, the correlation between both asset classes last December was 0. A correlation of 1 implies synchronicity in price movement. Another research firm, Datatrek, drew similar conclusions.

They stated that the correlation was strongest during periods of downturn in equity markets and was more disconnected when equity markets were charging upward. Since May, however, the correlation weakened and, subsequently, disappeared completely. He predicts further divergence in the prices of bitcoin and stocks. Whether that divergence eventually morphs into a convergence is still to be determined, given the nascent nature of cryptocurrency markets. London-based research consultancy Capital Economics is not betting on it.

Unsplash What happened to Ethereum? Despite recent promises from Ethereum's founder that it is approaching a major milestone to become less energy-intensive and more environmentally friendly, the sell-off has touched the market's second biggest digital token as well. Ethereum tokens are secured by a global network of computers called miners that process and verify transactions, similar to how Bitcoin works.

While cryptocurrency believers are encouraging investors to buy into the dip before this transition, the alt-coin is facing the same shaky market dynamics as any other asset. Will the cryptocurrency crash continue? Market factors are not encouraging that this will be a short-term pinch.

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