After a 6-days move up after we have hit our target in the previous analysis, I think Bitcoin has completed what I think to be the Wave B and is already on the Wave C run down.
Over in this video, I expressed my personal viewpoint that Bitcoin is not a hedge against the dollar and that it is actually a risk-on/off product more similar to the equities markets like the S&P500. I recommend that anyone who is interested to perform a study on the correlation and beta Bitcoin.
I suggested that the reason why it more closely related to the equity markets is due to it's deep integration within the financial sector (e.g. ETFs, structured products from banks).
Given that I think that the equity markets are primed to crash soon, I think that Bitcoin will follow suit.
Good luck!
Over in this video, I expressed my personal viewpoint that Bitcoin is not a hedge against the dollar and that it is actually a risk-on/off product more similar to the equities markets like the S&P500. I recommend that anyone who is interested to perform a study on the correlation and beta Bitcoin.
I suggested that the reason why it more closely related to the equity markets is due to it's deep integration within the financial sector (e.g. ETFs, structured products from banks).
Given that I think that the equity markets are primed to crash soon, I think that Bitcoin will follow suit.
Good luck!
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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.
Related publications
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.