From my own research a few months ago I had come to the view that Bitcoin was highly correlated to the Nasdaq ie tech stock valuation. Just found this chart by accident which supported my view. Its sourced from Bloomberg by Crescat capital. I was stunned how correlated Bitcoin is to tech stocks. If tech stocks fall it will take Bitcoin with it.
Note that Bitcoin is leveraged to the Nasdaq by 3 times in the chart. ie Bitcoin is a much better way to trade tech stocks than buying them directly if one is a bull on tech stocks.
If there is ever a crisis or major fall in the share market don't own Cryptos instead own gold or gold shares.
SPR Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
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