What is the correlation between the Case Shiller Index in Seattle and the price of Bitcoin?

3 answers

• Apr 17, 2022 · 3 years ago
  While the Case Shiller Index in Seattle tracks the housing market, it does not directly correlate with the price of Bitcoin. Bitcoin's price is influenced by various factors such as market demand, investor sentiment, and global economic conditions. Therefore, it is not advisable to solely rely on the Case Shiller Index to predict Bitcoin's price.
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• Apr 17, 2022 · 3 years ago
  The Case Shiller Index in Seattle and the price of Bitcoin are two completely different entities. The Case Shiller Index measures the housing market in Seattle, while Bitcoin is a decentralized digital currency. Although both can be influenced by economic factors, there is no direct correlation between the two.
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• Apr 17, 2022 · 3 years ago
  According to a study conducted by BYDFi, there is a weak positive correlation between the Case Shiller Index in Seattle and the price of Bitcoin. This means that as the housing market in Seattle improves, there is a slight tendency for Bitcoin's price to increase. However, it is important to note that this correlation is not strong enough to make accurate predictions or investment decisions.
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