The main chart is the ratio between Futures on BTC and S&P500
👉 Bitcoin CME Futures contracts are equal to 5 bitcoin, as defined by the CME CF Bitcoin Reference Rate (BRR) 👉 E-mini S&P500 Futures contracts are equal to 50 x S&P500 Index
Special remarks
😀 The Support Area and Resistance Areas are as highlighted on the chart. 😊 Since Bitcoin CME Futures were launched in Dec, 2017, S&P500 outperforms BTC to nowadays. 😁 Bitcoin has NO BALANCE SHEET, EARNGINS AND NEVER PAY DIVIDENDS
Comment
⋅
06-06-2023
BTC continues to look weaker than the S&P500 - the benchmark of the global economy. Now, amid multiple legal allegations by the SEC against CZ and the companies he controls, including Binance.
Trade active
⋅
June 13, 2023
This is how the crypto market recovered in 2014-16 and 2018-20 against the S&P500.
But, as the ancient Romans said, - Tertium non Datur... that means too much water drowned the miller.
Trade active
⋅
July 24, 2023
Lousy BTC vs seasoned SPX. The ratio is still under pressure, to crypto bulls sad.
BTC is a balance sheet if you had any idea what BTC really was you would understand that. To say it has no balance sheet is not having a clue what or how it works. It is also a reward for mining so miners collect the "dividend" essentially. If you don't grasp mining transactions then there is 0 chance you will be able to make any real gains in BTC because you will sell at every chance and never understand what BTC is for. BTC serves a much bigger role then just making people rich, its CME group and others like it that caused most of the problems in the first place. BTC cannot be compared to something that is solely based on the debt and a government promise (by that I mean the USD). For now BTC might be in USD but eventually stuff could be in BTC or some other nongovernment controlled currency. Don't underestimate BTC based on what the people that broke the system in the first place are saying and doing. They also do the exact opposite of what they are saying most of the time.
Pandorra
⋅
@Z3R0-G3N3S1S, Thanks for your comments. But I am absolutely sure, it just a castle in the air. And dust in the wind. Virtual bet on irrational optimism, with "Zero" as a divisor in P/B and P/E 😏