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It's the other way round. When NASDAQ sneezes, crypto catches a cold. I think because there's some tech investors who put a few percent into crypto, and when th
by davidgerard 4y ago
It's the other way round. When NASDAQ sneezes, crypto catches a cold. I think because there's some tech investors who put a few percent into crypto, and when the market heads south you sell your frivolous rubbish (the crypto) first. And it takes very little actual-dollar volume to tank crypto
Same thing happened in March 2020, when investors panicked over COVID-19 and flew to US treasuries. Stocks went down, crypto went through the floor.
- cableshaft 4y ago> Same thing happened in March 2020 I wish it were the same as March 2020. You had a big drop and then almost an immediate reversal that lead to an explosive bull run to many new all-time-highs until April 2021. Instead this time it's had the big drop and been very anemic for months since, with no clear end in sight. Could easily drop more. Starting to look more and more like the two year crypto winter back in 2014. Course if I was buying a coin a month that entire time it was $200 a coin I would have been retired by now. Or at least semi-retired.