Exchange CEO Explains Bitcoin Exploring Uncorrelated Price Action
Bitcoin’s price initially dumped alongside the mainstream markets, but now looks to be exploring its own route. “When the stock markets crashed, Bitcoin crashed,” AAX crypto exchange CEO Thor Chan told Cointelegraph. “It appeared that they were correlated,” he posited, adding:“However, the previous plunge of Bitcoin together with traditional financial markets is due to a liquidity problem. People dump whatever they can in any market. This is very extreme and rare because even the ‘safe haven’ assets dropped. Soon after, the liquidity became ‘normal’ again, we’ve seen Bitcoin’s price is discovering