Re:Cryptocurrencies add nothing useful to society, says chip...
by tric on Sunday March 26, 2023 @07:32PM
(#35320888)
Take a look at Bitcoin. It's up 80% from the recent bottom.
NVDA is up 140% for similar reasons: the market anticipates the tightening cycle is over.
It's up more than Bitcoin because of the AI narrative. It's also possible money is moving out of bank stocks (compare to KRE or XLF), small/mid-cap stocks (compare to IWM), and other semiconductor stocks (compare to SMH). This trend could mean-revert into the new quarter.
The comment I was originally addressing was about the decline, not the rally.
NVDA is up 140% for similar reasons: the market anticipates the tightening cycle is over.
It's up more than Bitcoin because of the AI narrative. It's also possible money is moving out of bank stocks (compare to KRE or XLF), small/mid-cap stocks (compare to IWM), and other semiconductor stocks (compare to SMH). This trend could mean-revert into the new quarter.
The comment I was originally addressing was about the decline, not the rally.