• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Ripple Scores Yet Another Win As Judge Torres Rejects SEC's Appeal Attempt
bitcoin rules referee

Bitcoin Plays By Its Own Set of Rules, New Market Research Finds

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0

Financial market analytics firm Indexica says the prime drivers for Bitcoin and the cryptocurrency market are completely different from those seen in the mainstream arena.


Bitcoin Price Drivers Remain a Mystery

Speaking to Forbes, Zak Selbert, the Indexica CEO said bitcoin and other cryptocurrencies do not behave in a similar manner to mainstream asset classes. According to Selbert:

From our extensive research, and we’ve done more testing around bitcoin and cryptocurrencies than we have for pretty much any other asset we’ve analyzed, it simply appears the bitcoin price and crypto markets just don’t respond as we would expect them to.

For Selbert, the prime drivers for price trends in the stock market – major company announcements, new technology, and government regulation, seem not to have any material effect on Bitcoin.

What Drives Bitcoin Price?

Bitcoinist reached out to Indexica for further comments on its research. Replying via email, Selbert opined:

We can typically pinpoint at least 40% of the drivers of price movement when looking in the rear view mirror, but for Bitcoin, it is rare for us to be able find the drivers of price movements. When price movements cannot be explained or identified, it means it will still be a while before the asset becomes traditional.

Over-complicated Much

Commenting on the matter in his daily market update, Mati Greenspan, Senior Market Analyst at eToro, put Indexica’s observations down to over-complicated research parameters for a still-developing asset class.

There isn’t nearly enough information required to develop the “fully realized market metrics” used to design predictive models for stocks, commodities, etc.

However, for Greenspan, to say that nothing moves the crypto market would be inaccurate. Using simple technical indicators like trend lines and observing fundamentals like network activity and adoption provide insight into price action, especially for BTC/USD.

Short-term sentiment can cause momentum changes at different points in time. The surges or drops that occur from such events are usually ephemeral with the price action reverting back to its previous state.

BTC Will Soon Attain Maturity

In the early days, exchange hacks and negative government regulations regularly impacted the market. In present times, however, such events no longer affect the BTC price even on positive news.

The growing consensus is that Bitcoin has become a more mature asset since the mostly hype-driven 2017 bull run. In that time, BTC fell 80%, experienced massive institutional interest and is now beginning to chip away at its 2018 decline.

According to the Indexica research, text documents concerning now contain similar language as can be seen for more mainstream asset classes. The Indexica team say this trend represents a “coming of age” for BTC.

As previously reported by Bitcoinist, Anthony Pompliano of Morgan Creek Digital believes the next 12 to 18 months will be pivotal for BTC. Pompliano joins the likes of others like Max Keiser and Travis Kling to posit that dovish central bank policies will put the global economy into a tailspin and send Bitcoin price to new all-time highs.

Do you think you have a firm handle on what causes the shifting tide of bitcoin price movements? Let us know in the comments below.


Images via Tradingview and Twitter @MatiGreenspan.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

ETH

ETH Futures ETF Debut – How Did The 1st Day Play Out?

11 hours ago
Crypto

A Crypto Recession Looming? Commodity Strategist Raises The Red Flag

14 hours ago
Satoshi Nakamoto

Cryptic Correspondence: Satoshi Nakamoto’s Secret Email Emerges From The Shadows

2 days ago
Bitcoin Silk Road Ross Ulbricht

10 Years In Prison: How Ross Ulbricht’s Silk Road Accelerated Bitcoin Adoption

2 days ago
Bitcoin price $30,000

Bitcoin Price Sets Sights On $30,000 As Holder Metric Hits New All-Time High

4 days ago
Bitcoin

Bitcoin Long-Term Metrics Point To A Different Scenario Than 2019 Fakeout: Top Analyst

4 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • PayPal’s Stablecoin Boosts Crypto Credibility; Ripple...

    8 hours ago
  • Sportsbet.io Secures New Influencers for Ongoing Campaign

    11 hours ago
  • New Crypto Gem Ready To Upheave The Ethereum Staking...

    15 hours ago
  • 1B XRP Unlocked: Ripple (XRP) has more chances to grow than...

    17 hours ago
  • Solana (SOL) and Cardano (ADA) New Price Targets –...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.