In 2017, diff cryptos were closely tied together in price, as in if one went up others did too. Now they seem much more decoupled from each other - why is this?
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2017 was driven by retail investors. 2020 is driven by institutions investing in a subset of cryptos (mostly $BTC).
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I'm not sure that's necessarily true. I do a lot of factor regressions on these things, and their loading on the first principal component still explains 60-80% of their variation.
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A few factors:
More mature market
Retail hasn't come back yet
Stablecoins let you park in synthetic dollars, rather than shifting risk off one coin into another
Bitcoin is taking a price/adoption leap forward, the rest won't catch up until its up move chills out for awhile
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