$BTC started descent before S&P500 - likely weak correlation... #onemansopionion
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Obviously the stock market boom was driven by investment from cryptocurrency millionaires!
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money was flowing to crypto-->bubble. There was some profit taking, but I suspect not enough asset switchers to inflate stocks. When bubble burst, there was a rush to sell, which could have been boon to stocks, but that's not what we saw. Likely culprit fear over monetary policy
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(again, i'm just spit-ballin here)
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when people speculate, they buy when they are confident, and sell when they are scared.
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If they *never* dropped in tandem with broader markets, then they'd be correlated...
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Risky assets become highly correlated at the worst times.
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Isn't there a several orders of magnitude difference between the market caps? Like saying leviathans hang out with whales.
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Definitely suggests that, if it must be one or the other, crypto is an asset not a currency.
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I'm guessing just a pure and simple coincidence- any attempts to incorporate the two drops into a unifying hypothesis just make my brain hurt.
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Margin calls.
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Perhaps it's a function of lots of excess cash sloshing around....and the dumb money had to go somewhere....so it went to building froth at the top of equity markets & cryptocurrency.
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Hmmm.... money moving to treasury bonds and corporate bonds. The market cap of crypto dropping by more than 50% (I believe smart $ is out) and the biggest drop in points for the DOW. Oh did I mention we’ve been on the longest bull run in history?
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OH and we are well overdue for a market crash. Nothing but coincidences.
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No coincidence. Correlation always approaches 1 in a decline.
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i think it's funny how people scrambled for it. it's like the world asked them: wealth and no dignity, or dignity and an honest salary.- that's what you really putting a price on when you give status and worth to a "nothing". the value will go up until the dignity is out of stock
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To be clear: most likely is coincidence/psychological. But fundamental reasons (interest rate expectations, risk appetite) could also play role
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Mkts probably dropping due to fears Fed will raise rates. Higher rates will be bad for BTC too. Besides, bubbles are sensitive to major events that people can psychologically coordinate on (sunspots). Plus higher risk in stocks should make investors want to shed risk in portfolio
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In the past crypto and traditional markets have been largely decoupled. A lot is happening right now in the crypto space, it could easily be a coincidence. Notable that the crypto correction began a month prior.
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