Cryptocurrency Price Trends Can Signal End of Bear Market, Binance Research says

Bitcoin (BTC) prices and prices on prices could already have beaten their lowest point. New analysis from cryptocurrency exchange Binance was completed on 11 April.

In the latest issue of their research bulletins, the exchange's dedicated analytical arm, Binance Research, investigated various current phenomena and trends in crypto competition markets.

Among them, the correlation between Bitcoin and prices on altars, data from 2014-2019 was confirmed that 90 days to mid-March represented the longest period of high correlation in market history. [19659002] According to historical behavior, such periods tend to trigger trend changes. The 90 days to mid-March included Bitcoin's fall from $ 6,500 to around $ 3,1[ads1]00, which led Binance to suggest that markets could now return after the end of the record correlation period.

"Having come from a period of highest internal correlations in the crypto story, the data can support the notion that the crypto sheet has already bound," exchanged summarized.

As Cointelegraph reported, Binance had a previous eye on the changed relationship between Bitcoin and prices for altcoin, and the termination of altcoins was less correlated with Bitcoin, but more so against the USD.

The latest bulletin also contained insights into the crypto basket's investor make-up: Institutional investors control around 7% of the offer, Binance says about one-third of the institutional control of the US stock market. 19659002] Last week another well-known voice approved the story that crypto markets had tied.

Thomas L ee, senior market analyst and co-founder of Fundstrat Global Advisors, pointed to three-year high-readings on his so-called "Bitcoin Misery Inside (BMI) as potential proof that no further disadvantages would occur.

" The main record is […] Further evidence that Bitcoin's bear market probably ended at $ 3,000, he wrote on Twitter on Thursday.