The ninth month of the year is typically one of the worse ones for BTC pricing when the standard yield goes to a negative of seven percent.
Bitcoin underperformed relative to previous averages, which may mean that you should be ready to see this digital coin perform less than the -7% of September’s average amount.
Indeed, prices could fall even more this September, but volatility was generally lower in this month – the 9-year average volatility is 61 and 45 percent, the lowest when compared to the remaining months.
But looking into the future, it could be that bigger volatility may become the norm for Bitcoin.
The popular crypto returned just 25 percent and has yet to get to its 315-day moving average of 78%, and just 38 days passed since volatility broke to 23 percent. All of this points to the fact that marketplace instability can be expected.
During all of this, a possible correction in US stocks may impact the digital gold due to the record valuations in the US S&P 500 stock index, which now went over those that were obtained in 2000.
That leap can point to the costliness of stocks, and it may cheapen them in upcoming times. That would influence BTC and the digital coin marketplace in general and can have both positive and negative outcomes.
The link between stocks and BTC pricing is a hot topic in the sector. Info is telling us that this year saw a jump in correlation amid the two instrument categories. And some analysts believe the link is really narrow amid US technology stocks and BTC.
Correlation between BTC & S&P 500:
During all of this, the on-chain analysis company Glassnode highlighted that BTC might have underperformed in its category but still fared better than the majority of popular altcoins.
The marketplace will be more unstable, and investors are moving to lower risks by shifting from lower-cap altcoins to trusted assets like bitcoin and Ethereum.
Glassnode agrees that stock marketplace shifts can have an impact on bitcoins but that this info is no more than an addition to on-chain basics when looking at BTC and the whole marketplace for digital coins.