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Title: Ex-ARK Invest Crypto Lead Reveals True Cause Behind Bitcoin (BTC) Collapse
In a recent statement, the former lead of ARK Invest’s cryptocurrency department has come forward to shed light on the reasons behind the significant decline in Bitcoin’s (BTC) value over the past few months. According to the expert, the correlation between cryptocurrencies and traditional assets is here to stay, despite the market volatility we’ve witnessed so far.
As reported by U.Today, Chris Burniske, a well-known crypto analyst and former ARK Invest lead, emphasized that the growing influence of institutional investors in the cryptocurrency space has led to a tighter connection with traditional markets. This newfound correlation is expected to have lasting implications for the industry as a whole.
“In today’s market, it’s no longer a question of whether or not there will be correlations between crypto and other asset classes,” Burniske stressed. “The point is that they’re here to stay, and we must adapt.”
Chris Burniske further highlighted the importance of this correlation for traders and investors alike:
Source: u.today
