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Author Topic: You wanted decoupling, you got it.  (Read 210 times)
dragonvslinux
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June 20, 2023, 07:10:54 PM
 #21

As the name of the topic says, everybody wanted decoupling from stocks a few years back,
There was no coupling to be decoupled! This is also not the first time bitcoin charts look nothing like the stock market charts.

In fairness, I think the OP meant short-term coupling - or at least should have. There has been a distinct correlation for over a year now, even if overall in Bitcoin's 12 year history there is very low correlation.

The oldest one was also a few years back, the same time people were talking about "correlation" was when bitcoin started shooting to the moon from $3k bottom while the stock market continued dumping during the COVID19 Pandemic.

Actually the S&P also reached a bottom in March 2020 during the covid crash and recovered similarly to Bitcoin, even if it reached ATH a lot sooner than Bitcoin did.

But I'm otherwise not denying your point that these so-called correlations are always short-lived, and if anything Bitcoin is un-correlated generally speaking.

The actual trend was bitcoin market manipulators were manipulating the price by convincing weak hands that whenever US stock market dumps they should also panic sell their bitcoins. Which they succeeded in a lot of occasions to cause panic sell each time US stock market dumped over the past couple of years!

This is where the correlation appears it seems it's true Cheesy

For example even Gold that should have been considered a safe haven during the covid dump suffered just like everything else. There was no logic to a lot of the sell-off in reality.

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