Ethereum Versus Bitcoin Versus Global Liquidity
A Second Best Alternative?
In a previous analysis we examined the various drivers of Bitcoin. From a variance decomposition, we found three key systematic influences on the Bitcoin price, namely Global Liquidity (41%); investor sentiment (22%) and an error-feedback term involving gold (37%), although gold itself is dominated by liquidity factors. See below
Keep reading with a 7-day free trial
Subscribe to Capital Wars to keep reading this post and get 7 days of free access to the full post archives.