You are viewing a single comment's thread from:
RE: Bitcoin Market Update: Price Spike Incoming?
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.
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...
Very good points @bitbrain, thanks for your input :)
👍