⚡️It's common when the market enters flat periods with low volatility, nothing to trade, & therefore nothing to say/analyse, that you will hear everything and anything, even the worst advices.
I'm not going to talk about all wrong reviews I've seen lately cos it would waste your time, BUT there is there is one fact that keeps coming back and irritates me.
👉There is Correlation between BTC & US Stock indices.
True or False⁉️
▫️First, it's a wrong comparison between 2 DIFFERENT TYPES of ASSETS, as an INDEX is a set of multiple values, while BTC is a single value.
▫️The CORRELATION RATE between INDICES and CRYPTO is 0.35 (or 35% of correlation), which is totally insignificant. At least 80% of correlation are needed to be used as statistically effect.
▫️TECHNICALLY CORRELATION, I took 3 indices #SP500 #DJI #DAX + #BTC (blue), over a 2-year period. Chart is clear & unequivocal: No Correlation between BTC price structure & those of the 3 indices.
🔅Conclusion. No Correlation Statistically and Technically.
I'm not going to talk about all wrong reviews I've seen lately cos it would waste your time, BUT there is there is one fact that keeps coming back and irritates me.
👉There is Correlation between BTC & US Stock indices.
True or False⁉️
▫️First, it's a wrong comparison between 2 DIFFERENT TYPES of ASSETS, as an INDEX is a set of multiple values, while BTC is a single value.
▫️The CORRELATION RATE between INDICES and CRYPTO is 0.35 (or 35% of correlation), which is totally insignificant. At least 80% of correlation are needed to be used as statistically effect.
▫️TECHNICALLY CORRELATION, I took 3 indices #SP500 #DJI #DAX + #BTC (blue), over a 2-year period. Chart is clear & unequivocal: No Correlation between BTC price structure & those of the 3 indices.
🔅Conclusion. No Correlation Statistically and Technically.
🚩US Stock Market Update.
👉 All 3 major US indices fell on Wednesday: #SP500 confirms correction down -1.84%, #Dow down -1.38% and #Nasdaq down -2.57 %.
👉#Tesla drops -7%, #FB finally goes below $200, and #Apple has lost almost -6% since last Friday and should be the next to start a heavy correction.
👉$BTC & $ETH remain +/- stable respectively around the $37,500 & $2,600 levels.
👉 All 3 major US indices fell on Wednesday: #SP500 confirms correction down -1.84%, #Dow down -1.38% and #Nasdaq down -2.57 %.
👉#Tesla drops -7%, #FB finally goes below $200, and #Apple has lost almost -6% since last Friday and should be the next to start a heavy correction.
👉$BTC & $ETH remain +/- stable respectively around the $37,500 & $2,600 levels.
❌ Economic decline, inflation, recession, depression, financial crisis, poverty, etc. have become common words used by government spokespersons and so-called guest experts in the media, telling entire population to tighten their belts!
👽 THEY REALLY THINK WE'RE FOOLS⁉️
✅ This week, EU and US stock indices broke new records ATH, up more than 50% this year... and even the vanguard of mega-cap tech giants #NYFANG has now doubled in 2023, from $4,400 to $8,728 USD.
🔹#STOXX50 +2.30%
🔹#DAX +3.07%
🔹#CAC40GR +2.05%
🔹#CAC40 +1.07%
🔹#DJI +1.90%
🔹#NDX +1.52%
🔹#SP500 +2.38%
(% from their last ATH)
👽 THEY REALLY THINK WE'RE FOOLS⁉️
✅ This week, EU and US stock indices broke new records ATH, up more than 50% this year... and even the vanguard of mega-cap tech giants #NYFANG has now doubled in 2023, from $4,400 to $8,728 USD.
🔹#STOXX50 +2.30%
🔹#DAX +3.07%
🔹#CAC40GR +2.05%
🔹#CAC40 +1.07%
🔹#DJI +1.90%
🔹#NDX +1.52%
🔹#SP500 +2.38%
(% from their last ATH)