There’s now a strong correlation between traditional assets markets and bitcoin (BTC), the flagship cryptocurrency, according to an article recently published on the Wall Street Journal (WSJ). Referencing data from research and analytics firm Excalibur Pro Inc., the WSJ noted that since the past five days, bitcoin has been trading at a 0.84 correlation to the gold bullion. As explained by Excalibur, a -1 correlation indicates there’s “complete inversion” (or no meaningful relationship) and a +1 means there’s a “perfect correlation.”
