Wednesday, October 5, 2022
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Bitcoin prices are down month-to-date.

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Lower trading activity today reverses some of BTC’s weekly gains.

The price of Bitcoin (BTC) started the week with a loss of 3 percent despite trading volume that was far lower than usual.

The value of cryptocurrencies has decreased by a total of 51 percent since the beginning of this year.

Bitcoin’s dominance stayed at 42% from the start of the year to April 1, up from 40% on January 1 and 42% on April 1.

The Dow Jones Industrial Average had a down of 0.3 percent, while the S&P 500 experienced a decline of 0.5 percent.

The Nasdaq Composite Index, which is heavily weighted toward technology companies, had a drop of 0.4 percent for the day.

MicroStrategy, a business software company that is also a large BTC stakeholder, is going to reveal its financial results for the fiscal second quarter on Tuesday.

After suffering a loss per share of $11.58 in the company’s fiscal first quarter, which ended on June 30, analysts anticipate suffering a loss per share of $7.27.

There is a link of 0.85 between the price of MicroStrategy’s stock and the price of BTC, which suggests that the stock price is largely reliant on BTC.

The link between the two prices is also evident. If the correlation coefficient is between -1.0 and 1.0, assets are more connected.

After a rise of 9 percent in value from the previous week to the current one, the price of Ether (ETH) dropped by 4.5 percent on Monday.

Monday was a bad day for a number of alternative cryptocurrencies, including Polkadot (DOT) and Cosmos (ATOM).

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