It depends how you measure. Using the QuantDare method, I calculate the three-year, daily return correlation of BTC-USD and QQQ as a low 0.394743503203337. As a test of the method, the three-year, daily return correlation of BTC-USD and WBTC-USD is a high 0.984723416200537.
It clearly wasn't moving in tandem with the Qs 3 years ago. That i agree with. But they are correlated now. Whenever the former goes up, so does the latter.
Sure, the high correlation started with the crypto ETFs. Be careful what you wish for. They wanted an ETF, that stopped the diversification idea. Since last mid-July, the correlation is perfect with the exception of the after election crypto over heat, when BTC went a good 15-20% higher than it was expected by its usual beta multiplier. I guess its "no news" movement depends on what the market will do. The last Trump presidency was actually good for stocks, and today shows that even the tariff news once acted on won't take down the market. Ambiguity will. So do we expect the market goin up 10-15% annually for the next 3 or so years? If so, stay in crypto, although one might as well just play the QQQs. (without crypto risk) I am expecting more of a sideways movement with big tops and sell offs. Today the NDX is where it was in mid-July. Also we are due to a general cataclysm, be it natural, political or military. Like China invading Taiwan or something...
bulls are fucked absolutely at this point. I see absolutely zero chance here. It's over. It really is over.....
Ha, I wrote that a while ago. Ethereum has a lot of set backs right now, and 1 of them being the regulations. Ethereum needs to have staking allowed and it's pectra upgrade. Pectra upgrade will be good, but once the SEC allows staking then there should be no reason why it can't rally.
I'm not so sure you need the SEC to allow staking. The TSX has had Ethereum staking ETFs for years now. The Pectra upgrade is badly needed for roll-ups right now. But sadly, at the rate of adoption, the increased blobs are not going to be enough to handle all this increasing demand if the chain plans to remain 80% dominant of all DeFi. I'm not complaining though, it's actually a nice problem to have. If there is one thing I do not like about the update, is there will be increased centralization due to the increased staking requirements.
Sorry Pek, this is just such a stupid comment. How can it not function as money? Money is simply something you exchange for something else you have, or something you accept for something you sold or for your time. People are clearly using Bitcoin already in this function. Many people use Bitcoin to pay for stuff, and a bunch are also paid in Bitcoin. In fact, Bitcoin is about the easiest thing to use. I helped my dad buy something on the internet when his credit card wouldn't work. I guess too many regulations about what country your credit card is accepted in. Then when you also consider all the restrictions that some people encounter about withdrawing money or sending money, none of which happens with Bitcoin, you can see how superior it is. Have you ever tried to use gold? The only unknown is how much mass adoption Bitcoin will see, and how quickly it happens. I leave it up to the government officials and the banking sector to continue to fuck everyone over because this is the best form of advertising. I watched a clip from Eric Trump talking about how his businesses were de-banked by Capital One I think it was. He saw first hand how crooked the system is, and this is a guy who already has more privileges than anyone else. You honestly need to re-evaluate how you arrive at the conclusions you do when you are presented with so much information countering your claims. About the only thing you can be right about is that Bitcoin isn't yet universal, isn't yet accepted by 95% of the population, but you are completely wrong about how it can't work as money or currency. Perhaps you don't want it to, but what you want means nothing for the adoption that will follow.