Veröffentlicht von • Bitcoin was released in 2009 and has since grown to a value of around $23k.
• The EUR/USD exchange rate and BTC/USD have both moved higher in 2022, with Bitcoin’s higher volatility leading to more opportunities for those believing in the correlation between the two markets.
• Bitcoin’s institutional adoption is responsible for its being more correlated with classic financial markets, making it an interesting asset to watch and trade.
Bitcoin has come a long way since its launch in 2009. Initially released as open-source software, the cryptocurrency market grew steadily, culminating in its current value of around $23k. While the first real-world transaction involving Bitcoin took place in 2010 when a programmer bought two pizzas using 10,000 coins, the cryptocurrency has since seen widespread adoption among both retailers and institutional investors.
The increased adoption of Bitcoin has led to its correlation with classic financial markets. For instance, the EUR/USD exchange rate and BTC/USD have both moved higher in 2022. While the EUR/USD bottomed in October last year and bounced from below 0.96 before climbing to above 1.09, Bitcoin’s higher volatility led to more opportunities for those believing in the correlation between the two markets.
The institutional adoption of Bitcoin is responsible for its correlation with classic financial markets. This makes Bitcoin an interesting asset to watch and trade. For example, investors can use the EUR/USD exchange rate to better understand and trade BTC/USD. Ultimately, the increased adoption of Bitcoin and its correlation with the EUR/USD exchange rate has made it an attractive asset for both retail and institutional investors.
