Crypto prices were crushed this past week and when such events happen, many seek out a culprit.
We’ve been noting that demand for bitcoin and ether was drying up . That answered the question “what?” but not “why?” One persistent, common myth about crypto may seem perfectly reasonable but doesn’t hold up when the data is analyzed. That myth is that cryptocurrencies trade closely with tech stocks and certainly more so than with the overall market.this theory is gaining tractionAt first blush, there’s a lot of reasons why that would make sense. Buying cryptocurrencies – not just bitcoin, but any of them – is a bet that the technology will be adopted by more users.
Thus, one would expect the new technology narrative to far outweigh the inflation hedge narrative, which is an integral part of bitcoin's origin story. Yet is that really the case?The favored proxy for the tech sector, the Nasdaq 100, is packed with giants in the space: Apple, Microsoft, Amazon, Meta , Tesla and Alphabet , which accounted for
lvlewitinn Ok
lvlewitinn Regardless of opinion if the major markets on Wall Street accept Bitcoin or cryptocurrency like nasdaq, usdx, sp500 the numbers will eventually play out. With cryptocurrency you has the ability to trade at lower rates and get paid based on the % of cryptocurrency that you own.
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lvlewitinn One of badly written reports ive ever read
YourCryptoFeed lvlewitinn Absolutely agree. Crypto Bitcoin ETH
lvlewitinn lol. this is pure bs.
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lvlewitinn I call BS of course there’s evident correlation - Nasdaq was having its correction since Dec and the excessive selling on risk on assets like $btc was affected negatively. These experts are fucking noobs
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lvlewitinn The world is going to keep getting more expensive in dollar terms and cheaper in bitcoin terms. Choose your savings technology wisely. Everyone should be following 6max04 he is a super underrated bitcoiner I’ve been taking his tweets and tips seriously & it’s been great
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