By Benjamin Dressing A recent study by the University of Technology in Sydney, Australia, came to a remarkable conclusion…
The study attempted to model and forecast the volatility of bitcoin returns and analyze its correlation to other markets.
Using statistics and machine learning, the study found, “The correlation analysis of bitcoin returns and the financial indices, particularly DJIA for the U.S. market and ASX for the Australian market and the exchange rate of AUD/USD, has shown the bitcoin price movement does not follow any of these instruments.”
In layman’s terms, the price of bitcoin is not correlated to stock market moves or the value of other …read more
