Crypto Can’t Shake the Correlation Narrative; BTC, ETH Sink but Meme Coins Rise

Crypto Can’t Shake the Correlation Narrative; BTC, ETH Sink but Meme Coins Rise

“Crypto, on the other hand, doesn’t have the same valuation metrics. It’s still in its infancy and so are its valuation models,” he said to CoinDesk via email. “That ambiguity, with respect to valuations, is what allowed for investors to justify chasing prices higher. If I’m right on that, then I would expect the volatility in crypto to outlast the volatility in equities, something you don’t want if you’re seeking a safe haven.”

Originally Posted on: https://www.coindesk.com/markets/2022/08/17/first-mover-asia-crypto-cant-shake-the-correlation-narrative-btc-eth-sink-but-meme-coins-rise/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Sam Reynolds, James Rubin

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