So been thinking about this a lot.. Bitcoin performs like a tech stock and is correlated to S&P tightly according to big brained. We saw this in 2020-2022. It pumps when there is money entering the system. When people receive stinky cheques etc. nothing more that a speculative asset pump by degens.
But Bitcoin also pumps when they quantitively tighten… like the last 3 or so months. When they pull money out of the system to reset the damage done by printing and in turn do more damage Bitcoin pumps.
So either Bitcoin pumps when ever fiater’s destroy their own system (very regularly), or Bitcoin is in a forever upward trend with pullbacks now and again due to the natural ebb and flow of adoption.
Is it possible that the correlation and similarities to anything in the Fiat world is illusionary and momentary?
I’m beginning to think so.
SatoshiSamurai
npub14t…5d5f6
2023-03-21 08:56:43
Author Public Key
npub14tgre8e992pq2njqankr3m620j7efykf3xer4mfcv5p6drs6u24qw5d5f6Published at
2023-03-21 08:56:43Event JSON
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"pubkey": "aad03c9f252a82054e40ecec38ef4a7cbd9492c989b23aed386503a68e1ae2aa",
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"content": "So been thinking about this a lot.. Bitcoin performs like a tech stock and is correlated to S\u0026P tightly according to big brained. We saw this in 2020-2022. It pumps when there is money entering the system. When people receive stinky cheques etc. nothing more that a speculative asset pump by degens.\n\nBut Bitcoin also pumps when they quantitively tighten… like the last 3 or so months. When they pull money out of the system to reset the damage done by printing and in turn do more damage Bitcoin pumps. \n\n\nSo either Bitcoin pumps when ever fiater’s destroy their own system (very regularly), or Bitcoin is in a forever upward trend with pullbacks now and again due to the natural ebb and flow of adoption. \n\nIs it possible that the correlation and similarities to anything in the Fiat world is illusionary and momentary?\nI’m beginning to think so.",
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}