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Bitcoin correlates a bit too closely to tech for my liking. Take NVDA for example. The movement (albeit different magnitude) has been very similar between the t
by atlgator 2y ago
Bitcoin correlates a bit too closely to tech for my liking. Take NVDA for example. The movement (albeit different magnitude) has been very similar between the two since 2021. This may imply that a large tech selloff could trigger a similar drop in BTC.
- enether 2y agoI believe it correlates to global liquidity and interest rates. Some people have posted good analysis on that. And it's no surprise tech stocks are correlated to said liquidity/rates too. That's how I explain it to myself, at least. I do believe a large tech selloff would most likely result in BTC selloff too. But chances are these sort of things may trigger a broader selloff too. e.g check gold correlation to tech stocks recently
- timonoko 2y agoI bought NVDA because it was clearly bitcoin derivative on steroids. But that was 5 years ago. AI-boom diverted it 3000%. Nothing to do with bitcoin anymore.