Bitcoin and the SPX Detach 5-Nov. (Good News)
We can see Bitcoin and the S&P 500 Index detaching around the 5th of November, a month ago.
This is an important development because while the SPX moved higher, BTC went down and hit a new low.
The TradFi market is not looking good in the mid- to long-term.
Seeing this two detach is positive as Bitcoin cannot be bound by the decisions of the Fed.
Bitcoin is borderless, international, the Fed is only USA.
If Bitcoin remains correlated with the SPX, then it would have to stay in a bear market for multiple years more.
Even though have were correlated for a while, we are already seeing evidence of this correlation ending.
Bitcoin and Cryptocurrency was invented as an alternative to the conventional markets.
Bitcoin is here for the sole purpose to protect us, to give us a different choice, a different option, and alternative, in case the conventional markets go belly up.
We can expect Bitcoin to do its job.
When the worst TradFi bear market in our lifetime shows up, it is very likely that cryptocurrency will still be here and will become the peoples choice.
Let me say this, the bottom might not yet be in, it really makes no difference to us.
But we are 100% certain that Cryptocurrency will bottom many times faster than the TradFi market and by the time TradFi bottoms crypto is going to be way up.
It is good to see the SPX and BTC detach because the Fed can continue hiking the interest and this can crash the entire market.
If BTC and the SPX are not moving together, then the rate hikes might not affect BTC.
Just like we are seeing now, more bankruptcy, more bad news, yet Bitcoin continue to do its own thing while many Altcoins have already bottom and have started to increase.
Before the next bearish wave we will have a relief rally.
Thanks a lot for your support.
Namaste.
This is an important development because while the SPX moved higher, BTC went down and hit a new low.
The TradFi market is not looking good in the mid- to long-term.
Seeing this two detach is positive as Bitcoin cannot be bound by the decisions of the Fed.
Bitcoin is borderless, international, the Fed is only USA.
If Bitcoin remains correlated with the SPX, then it would have to stay in a bear market for multiple years more.
Even though have were correlated for a while, we are already seeing evidence of this correlation ending.
Bitcoin and Cryptocurrency was invented as an alternative to the conventional markets.
Bitcoin is here for the sole purpose to protect us, to give us a different choice, a different option, and alternative, in case the conventional markets go belly up.
We can expect Bitcoin to do its job.
When the worst TradFi bear market in our lifetime shows up, it is very likely that cryptocurrency will still be here and will become the peoples choice.
Let me say this, the bottom might not yet be in, it really makes no difference to us.
But we are 100% certain that Cryptocurrency will bottom many times faster than the TradFi market and by the time TradFi bottoms crypto is going to be way up.
It is good to see the SPX and BTC detach because the Fed can continue hiking the interest and this can crash the entire market.
If BTC and the SPX are not moving together, then the rate hikes might not affect BTC.
Just like we are seeing now, more bankruptcy, more bad news, yet Bitcoin continue to do its own thing while many Altcoins have already bottom and have started to increase.
* Late 2022/early 2023 the bottom is confirmed.
* Mid 2023 the new bulls confirmed.
* 2024 Full bullish wave.
* Late 2025 Bitcoin peaks.
Before the next bearish wave we will have a relief rally.
Thanks a lot for your support.
Namaste.
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