BITCOIN- Breaking FREE From The correlation with Nasdaq (P2)

This are the BIG NEWS of the day : Bitcoin manages to rebound emphatically today whereas Nasdaq still dipping.

Since early 2021, the correlation coefficient between bitcoin and the S&P 500 or the Nasdaq Composite has been much higher than between bitcoin and gold , which has been traditionally seen as a hedge against inflation . Bitcoin and gold , however, had a negative correlation during several periods.

According this (stupid) article:
'Bitcoin’s Rising Correlation With Tech Weighs on Hedge Appeal"
“If this continues in terms of the correlation, we think that crypto could lose its appeal as a hedge and we’re starting to see that right now,” said Anderson Lafontant, senior adviser of advanced planning at Miracle Mile Advisors''

Professor knew it and knows it now too that the correlation will break (and it is breaking) but only in favor of Bitcoin and against Nasdaq.


Long on BTC , Short on indices. the new Safe haven is here...and it's called BITCOIN . (imho)

One Love,

the FXPROFESSOR