During the recent Hybrid Bitcoin and Cryptocurrency Conference conference which has taken place in Bangkok, the analyst with Wall Street and the co-founder of Fundstrat Global Advisors Tom Li answering a question of value of qualitative factors from the point of view of the current maturity of the market, I have noted that it is difficult to use qualitative methods for measurement of projects in cryptospace as cryptocurrencies still are at an early stage of development and have no huge number of winners and losers. Writes AMBCrypto about it.
Besides, he has reported that the research reports of their company allowing to learn about ways of tracking of the market will be submitted for studying to everyone.
"… We have found correlation and have studied 50 cross-correlations of currencies. It is incredibly high rate which means that mostly the markets trade with each other and move in one direction. However we try to shed light on market sectorization" — Li has added.
According to him, the only project which has really passed test within nine years it is bitcoin.
"… You know, people forget that Netscape and Yahoo have been founded approximately the same year, as Amazon and Netflix. As a result we have, FANG [Facebook, Amazon, Netflix, Google] and not absolutely successful Yahoo and Netscape".
Though Tom Li has mentioned that Yahoo hasn't suffered final failure, but he nevertheless doesn't dominate. According to his point of view, nine years in the cryptomarket equal to thirty years in the traditional markets. Therefore the bitcoin has already won the markets and has proved.
As for correlation of bitcoin with the stock market, Li has noted that there is a high probability that the first cryptocurrency will remain uncorrelated that can't be told about other cryptospace.
"The bitcoin is a storage of value therefore the fact that it has low correlation with the stock market, is justified" — Li has concluded.