Analysis: As the crypto market matures, bitcoin price trends begin to resemble traditional assets

When calculating the correlation between gold and bitcoin prices from April 2013 to December 2019, the data shows that the correlation is quite high at 46.5% (0% is not relevant, 100% means completely positive correlation,- 100% means completely negative correlation). Interestingly, when comparing the price correlation between 2018 and 2019, we can find that the price correlation has increased from 60.3% in 2018 to 70.8% in 2019. This raises the assumption that as the crypto market matures, price trends will begin to resemble traditional assets.