Re:What would it take for Bitcoin to fail?
by atlgator on Saturday December 28, 2024 @11:00PM
(#42537408)
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.
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Re:What would it take for Bitcoin to fail?
by timonoko on Sunday December 29, 2024 @12:04AM
(#42537664)
I 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.
Re:What would it take for Bitcoin to fail?
by enether on Sunday December 29, 2024 @11:18AM
(#42540827)
I 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