Evening Update: Very Quick Musings about Correlations
To my followers:
Nothing has changed with my Solana Analysis. Expecting lower and I anticipate we could go slightly higher before we get lower but tonight's post is about correlations. The US Markets have been going down for the last 4 days straight...to be exact 4.59%.
If Crypto was correlated to the US markets why hasn't Solana tanked?
I will acknowledge at times things seem correlated, tethered to one another. I get it. But correlations are in general,...worthless. They all fall apart over time. Bonds, Equities, Gold , Equities, and Crypto.
When some of my followers ask me how to do I expect Bitcoin to hit $100,000 in the next 2 years if we're in a super cycle wave 4 in equities...my mind explodes. So what? The two have nothing to do with each other to that extent.
You may disagree...and if so, how has crypto stayed elevated while the market tanked? Just keep focused on the pattern!
Best to all,
Chris
Nothing has changed with my Solana Analysis. Expecting lower and I anticipate we could go slightly higher before we get lower but tonight's post is about correlations. The US Markets have been going down for the last 4 days straight...to be exact 4.59%.
If Crypto was correlated to the US markets why hasn't Solana tanked?
I will acknowledge at times things seem correlated, tethered to one another. I get it. But correlations are in general,...worthless. They all fall apart over time. Bonds, Equities, Gold , Equities, and Crypto.
When some of my followers ask me how to do I expect Bitcoin to hit $100,000 in the next 2 years if we're in a super cycle wave 4 in equities...my mind explodes. So what? The two have nothing to do with each other to that extent.
You may disagree...and if so, how has crypto stayed elevated while the market tanked? Just keep focused on the pattern!
Best to all,
Chris
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