Ninjastic
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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DaRude
on 22/03/2020, 18:55:23 UTC
Quote from: Biodom on March 22, 2020, 05:59:39 PM
Quote from: nutildah on March 22, 2020, 04:13:02 PM
Quote from: fillippone on March 22, 2020, 03:50:45 PM
The fact is that Bitcoin has zero correlation with other asset classes.

Not a fact. Even @aantop recognizes the correlation:



There's other more mathematically sound ways of identifying increasing correlation but they are too cumbersome and boring to reproduce at the moment.


I would be ecstatic if all institutions drop off completely (well, maybe except a couple that were super-early) until bitcoin gets to $20-50K based on NEW users.
Then, institutions can re-join the game and panic at 300K all they want (as long as we don't drop below 50K).

Couldn't agree with Andreas more, but don't forget it'll work the other way too, once price gets super comfortable, they'll pile on like flies on shit.