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ciekawy
Apr 10, 2018 10:44 PM

correlation between BTCUSD and USD index? Education

DXY*2300-199000TVC

Description

after scaling DXY by quite a bit there is noticeable correlation with BTCUSD - my other chart tries to "decrease" the DXY influence (which in such case may actually be pretty big, for whatever reason) from the BTCUSD chart.

What I'm trying to say in other words is that regardless the fact BTC value expressed in USD has it's own path in time which is pretty volatile and mainly going up for number of years, with the progressing adoption amd new players coming in it may become pretty sensitive to US Dollar strength recent months.

Comment

look how well the moves on USD index and BTCUSD were synchronized

Comment

looks like we're approaching resistance on this chart which seems to correlate with touching the downtrendline for btcusd

Comment

correct chart here:
Comments
ciekawy
here is another view on this:
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