Bitcoin ($87,500) is currently (pink dot) way off its historic correlation with stocks ($6900) and gold ($4500). This happened before, when BTC was below $1k, and resulted in a 10x pump. But correlation could also be broken, and then this time will be different. Time will tell..


where did you even get the number 370k from
Bitcoin certainly wasn't uncorrelated last 10 years. Everything of real value pumps when governments debase money.
As I recall, price was suppressed by 1/8 of all circulating coins being stolen at MtGox (late 2013) and being dumped on BTC-e. Then by 2014 whales were dumping due to blocksize war deadlock. That mainly looked resolved by July 2017 at $2000 BTC, price mooned to $20k b year end.
Question to ask if Quantum is perceived by investors as the new “Blocksize War” equivalent obstacle.
Correlation charts are not a trigger. “It 10x’d before” isn’t a thesis—flows decide if it reconnects. ⚡️
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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