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RE: Bitcoin Market Update: Price Spike Incoming?

in #cryptocurrencies • 6 years ago

Thanks for your input @bitbrain, do you pay much attention to the stock market? It seems to me that there could be some correlation between Bitcoin and stocks. Bitcoin is a risky asset so it might end up being the first asset being dropped in case stocks start really tanking.

6 years ago in #cryptocurrencies by
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     6 years ago 

    I pay some attention to it, not much. I have been trading stocks much longer than I have been trading crypto, but with far less interest and far less expectation of long-term ROI.

    I wrote this about crypto vs The Dow some time ago, I find the dwindling correlation interesting: https://steemit.com/cryptocurrency/@bitbrain/a-troubled-relationship-crypto-divorces-dow

    I think that BTC is a "risky" asset in general (becoming less risky all the time), but one which is divorced from the market, thereby making it a safe haven in times of trouble. I believe BTC (and other crypto) should do well when other markets tank. What's more, I can point to examples where this already happened. Argentina - happening now, Turkey - a few months back, Venezuela - ongoing, Zimbabwe...

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     6 years ago 

    Very good points @bitbrain, thanks for your input :)

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