Analysts at Deutsche Bank released a note to clients on Friday, Jan. 19 stating that there is a growing correlation between the price of Bitcoin (BTC) and the CBOE Volatility Index (VIX), also known as Wall Street’s “Fear Index.”

Masao Muraki, a global financial strategist at Deutsche Bank, along with two colleagues Hiroshi Torii and Tao Xu, wrote in the note that a lack of fluctuation and volatility in the stock market is leading investors to look elsewhere to make money.

Because of institutional investors’ growing interest in more risky investments like cryptocurrencies, Muraki writes in the note, the "correlation between Bitcoin and VIX has increased dramatically:" The note contines:

“Now, a growing number of institutional investors are watching cryptocurrencies as the frontier of risk-taking to evaluate the sustainability of asset prices. The result is that institutional investors, who are supposed to value assets using their sophisticated financial literacy, analysis, and information-gathering strengths, are actually seeking feedback about the market from cryptocurrency prices (which are mainly formed by retail investors)."

Muraki’s main point is that as long as volatility in the stock market is decreasing, the price of BTC and other mainstream cryptocurrencies will continue to rise as investors continue to turn to the crypto market to make money.

While markets for traditional assets are currently relatively predictable, the crypto market is anything but stable. After breaking $20,000 per coin in mid-December 2017, BTC crashed to down below $10,000 on Jan. 17.

BTC is currently trading at an average of $11,834, down 1.02 percent over the 24 hours to press time.