Short/medium term correlation between BTC and stock indices
So, I was stating yesterday that one of the reasons why BTC turned unexpectedly bullish, is the strong performance of stocks, especially tech stocks.
That makes me believe that many treat BTC as a tech asset, especially CBOE and wall street players.
So, we see the correlation on shorter timeframes is definitely there, even though it is a bit delayed.
The overall structure is quite similar, and the global trend also.
First downtrend, then uptrend, and the ellipses show that the larger pumps and dumps in NASDAQ can also be found in BTC.
Many expected a strong dump this year in stocks, but instead stocks are just continuing to pump.
And the large supercycle yearly picture for stocks shows that this can go on for another 10 years until some larger correction (crash) can take place:
There is also some correlation on longer timeframes, I'll soon release a chart on that comparison.
That makes me believe that many treat BTC as a tech asset, especially CBOE and wall street players.
So, we see the correlation on shorter timeframes is definitely there, even though it is a bit delayed.
The overall structure is quite similar, and the global trend also.
First downtrend, then uptrend, and the ellipses show that the larger pumps and dumps in NASDAQ can also be found in BTC.
Many expected a strong dump this year in stocks, but instead stocks are just continuing to pump.
And the large supercycle yearly picture for stocks shows that this can go on for another 10 years until some larger correction (crash) can take place:
There is also some correlation on longer timeframes, I'll soon release a chart on that comparison.