Very basic line chart to illustrate that BTC is a leading indicator of where the NASDAQ will go. They aren't always in lockstep, but the correlation is apparent.
Note
Should also point out that, while this correlation has been valid since the latest bitcoin rally, it may not sustain if/when BTC prices take a massive shift in pricing. Like gold futures, BTC is a strong leading indicator for the market but you have to watch for strong divergences to know if the correlation will continue.Note
BTC into a critical price range. Curious if NASDAQ will catch up to the drop or if we're looking at the end of the mirror. Seems to be lagging BTC lately. Tomorrow will be interesting.Note
And the mirror is broken...Very interesting.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.