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

Due to the growing interest of institutional investors for riskier investments like cryptocurrency, Muraki writes in the memo, " correlation between Bitcoin and VIX has increased dramatically : "The Contine Note:

" Now, a growing number of institutional investors are looking at cryptocurrencies as the frontier of taking risks to gauge the sustainability of asset prices. Institutional investors, who are expected to value assets using their sophisticated finance, analytics and information gathering skills, are actually looking for market intelligence from cryptocurrency prices (mainly formed by private investors).]

Muraki's main argument is that as long as the volatility of the stock market di minue, the price of BTC and other dominant cryptocurrencies will continue to increase as investors continue to turn to crypto to earn money. ]

While markets for traditional assets are currently relatively predictable, the crypto-market is far from stable.After breaking $ 20,000 per coin in mid-December 2017, the BTC dropped to less than $ 10,000 on January 17th.

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