High Correlation - BTC vs. NASDAQ Composite
What a bull-run right now it Bitcoin. I think no one had expect such a massive pump in Bitcoin. It´s crazy which pace and upside moves we see everyday. Are these all ready the institutional investors we were looking for, or is it just Grayscale and MicroStrategy and they accumulate more and more Bitcoins every day? It´s crazy to be honest. But yeah, it might still not be the end of that road-trip we see here. In the last couple of weeks there were no sellers. Every dip were used to buy Bitcoins and pushed the price to new highs. Insane.
What I observed could we very important and interesting for you. Bitcoin might boost within the next weeks or months to $50.000. This is not unrealistic. Compared to the NASDAQ Composite you can see, that Bitcoin is running 4x faster then the Tech-Index. The correlation is impressive is very high between both indices. This will for sure surprise a lot who see this chart.
We see 5 cycles which are close to identical. And if the Bitcoin will perform similar to the NASDAQ Composite after its breakout over the old All-Time-High from the Tech-Bubble, Bitcoin has still 25% upside-potential until it will reach $50.000. Here we might see the first bigger correct. Don´t be surprised if the correction might be 30%, 40% or even 50%.
Still, a 50% correction from $50.000 are still $25.000. This is still a lot when you think back to March 2020, when Bitcoin was at $5.000. Absolute no one knows what will happen in the near future to Bitcoin. But what we know, it will be an exiting and funny trip. Doesn´t matter if Bitcoin will rally to 1mio. or back to $5.000.
If you like this kind of analysis, give this article a like or just follow me, so you don´t miss out anything what might be interesting for you.
Many Thanks,
IndexVision
What I observed could we very important and interesting for you. Bitcoin might boost within the next weeks or months to $50.000. This is not unrealistic. Compared to the NASDAQ Composite you can see, that Bitcoin is running 4x faster then the Tech-Index. The correlation is impressive is very high between both indices. This will for sure surprise a lot who see this chart.
We see 5 cycles which are close to identical. And if the Bitcoin will perform similar to the NASDAQ Composite after its breakout over the old All-Time-High from the Tech-Bubble, Bitcoin has still 25% upside-potential until it will reach $50.000. Here we might see the first bigger correct. Don´t be surprised if the correction might be 30%, 40% or even 50%.
Still, a 50% correction from $50.000 are still $25.000. This is still a lot when you think back to March 2020, when Bitcoin was at $5.000. Absolute no one knows what will happen in the near future to Bitcoin. But what we know, it will be an exiting and funny trip. Doesn´t matter if Bitcoin will rally to 1mio. or back to $5.000.
If you like this kind of analysis, give this article a like or just follow me, so you don´t miss out anything what might be interesting for you.
Many Thanks,
IndexVision
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