May 2023
A americana S&P Global publicou um estudo super interessante sobre a correlação do mercado cripto com os fatores macroeconómicos.
"– Bull and bear runs in the crypto market have both coincided with periods of ultraloose monetary policy and of significant tightening. While the recent rapid increase in interest rates could have a negative impact on crypto markets, idiosyncratic factors also seem to play a large role.
– Crypto assets could theoretically be a hedge against inflation. We think the track record for crypto is too short to prove this. We have seen greater adoption of cryptocurrencies in certain emerging markets with high inflation and rapid depreciation of the local currency.
– The dollar has been generally inversely correlated with prices of crypto assets.
– Crypto markets appear to perform strongly during periods of low market volatility and less well during high volatility.
#Cryptocurrency prices seem to be less affected by macroeconomic factors than prices of more traditional financial assets. Key drivers for crypto assets include market confidence, adoption, technology and liquidity conditions (see Table 1). By contrast, traditional financial assets are strongly influenced by macroeconomic drivers, such as interest rates and inflation. These traditional assets also differ from crypto in being subject to government regulations and in being more transparent in terms of knowyour-customer requirements and anti-money laundering measures."
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