Bitcoin Price Recovery Might Be Based On The Relationship It Has With Commodities

The current bearish market has seen the primary digital asset lose its support at $20k which is said that if it’s goes below $17k analyst are saying is trouble for the crypto market. Every trader has the mentality that the bearish market is for building your Portfolio waiting for the next bullish run, the question is what when next is the bullish cycle?

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In a twitter thread with a Bloomberg analyst which on commodities which he says that bitcoin is the major discounted asset class, in he’s tweet which he says;

“The lowest-ever crypto volatility vs. the Bloomberg Commodity Index (BCOM) may portend a resumption of Bitcoin’s propensity to outperform. Our graphic showing the elongated upward trajectory of the crypto’s price vs. the BCOM is typical compared with most assets.

But what’s unique relative to commodities is the 260-day volatility of the crypto dropping to new lows. If history is a guide, Bitcoin volatility is more likely to recover vs. commodities when the crypto heads towards new highs.”

Since computation bitcoin has traded steepest discount since September with the primary digital asset trading below $20k.

“The steepest Bitcoin discount on September 20th since its 200-week moving average could be calculated shows the extremity of the crypto crash and risk vs. reward for shorts vs. potential resumption of the elongated upward trajectory.”

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