Analysis: Bitcoin is a "procyclical" commodity

The Coin Security Institute recently used the JP Morgan Chase Global PMI Index and the Sentix Global Economic Expectations and Status Index as a reference. It was found that although the long-term cycle of Bitcoin continued to be on the upward trend, the fluctuations in the medium and short (months) level and the fluctuation of the real economy Coincidence reflects a "procyclical" nature. That is, when the economy accelerates expansion or expectations are good, bitcoin is mostly in a bull market, and vice versa is mostly in a bear market or sideways. The rise of digital assets has changed the way individuals and households store wealth, and the quality of the real economy does indirectly affect the price of digital assets.