Quote from: exstasie on April 28, 2020, 11:21:15 PM

Quote from: gentlemand on April 28, 2020, 06:46:53 PM

Quote from: drays on April 28, 2020, 06:32:00 PM

How probably is for the Bitcoin to do the opposite of what the public expects, and don't crash with the stocks, when they do crash?

We're in a phase where the world is looking for confidence, and there isn't a lot to be found. I see no reason why BTC would be any more confident in the face of a global shit than stocks. This isn't one economy wrecking itself, it's everyone everywhere. That means pensions faltering, jobs going, taxes rising.

Yep, nothing really escapes big economic contractions. Some assets fare better than others, but ultimately they all face the same downward pressures, especially in this dollar debt-inflated economy.

Quote from: drays on April 28, 2020, 06:32:00 PM

Now, ranting aside, I would expect the stock market to crash pretty soon, or at least suffer a lot, for a long time. Does it mean Bitcoin has to do the same, just because it correlates to stocks..? I am trying to find reasons why it shouldn't, but the only one coming to my mind is - as everyone expects Bitcoin to follow stocks, maybe it wouldn't follow them just because of that?

BTC will probably diverge bullishly at some point, but my guess is it won't be until after the mid-term economic picture becomes clearer. A V-shaped recovery is out of the question now, but depression and stagflation are both on the table. Each would have very different outcomes for BTC.

Don't know about the stock market : The game there is not really open to free trade so much, being led by derivatives HFT.

However, tend to agree on BTC. It should break out at some point, but this is not it, not yet a while. The momentum is far too sudden. There is very strong overhead resistance at 13500, 10500, and now this spike looks like it could create another in the 9000's, which would be very bearish. Only a sustained move above 10500 would be a real positive, but that might be some time away.

The upcoming halving is creating FOMO, and that will be over very soon.