Bitcoin’s association with other markets is growing, as analysts note that the market’s biggest asset is seeing a growing correlation with big tech stocks. According to data from Trading View, BTC prices are seeing an increasing correlation with Tesla (NASDAQ:TSLA).
In light of this analysis, the correlation raises questions about whether or not bitcoin is a good diversification option. Bitcoin advocates have long argued that the asset’s absence of correlation to other markets makes it a desirable investment.
However, on-chain analytics show that the absence of correlation is fading as more investors flood the market.
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Source: Cryptocurrency - investing.com
