Also, the casino nature of the "crypto" market, leads to great volitility and the association of Bitcoin as a "tech product" has it firmly in step with the Nasdaq chart at times.
Filed under, “Teach people that
Bitcoin is not a stock—Bitcoin is nothing like a stock.” It is a very large file.
Its no secret that bitcoin has been tracking the stock market latelty and becoming more and more intertwined with political and macroeconomic factors,So it may actually be beneficial to treat it as a "stock" as this will allow for better models and price predictions.
It is so much not-a-secret that there is even a word for it: “Coupling”. Please try reading the link before you offer counterarguments issues I raised, which are irrelevant to coupling. In addition to what I said at that link, where I did not think I needed to explain why coupling hurts us:
Most Bitcoiners seem to agree that being coupled to the stock market is a bad thing. Bitcoin is supposed to be “digital gold”—we should be coupled to the PMs, not stocks! Bitcoin is supposed to be a hedge against inflation—but idiots who treat it as a “stock” are fleeing Bitcoin to buy inflationary central bank altcoins. I would even go so far to say that in the long term, coupling to stocks is a threat to Bitcoin’s economic viability. Now, we have already been coupled to stocks for years; and it is killing us. If we now forever lose 200 WMA as a Schelling point for a Bitcoin Bottom (as it seems we may), coupling to the stock market will be one major factor, in my opinion.
Filed under, “
Teach people that
Bitcoin is not a stock—Bitcoin is nothing like a stock.” It is a very large file.