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/biz/ - Business & Finance

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54288432 No.54288432 [Reply] [Original]

>THIS IS A BOBO HATE THREAD
Just kidding, now that I've got your attention, please review the picture in relation to this post.
Bitcoin is not breaking out wtftf
Bitcoin is not an alternative to the banking system
People are not flocking to Bitcoin to avoid the financial system
Bitcoin has more or less acted almost lock-in-step with TQQQ (3x leverage Nasdaq) for quite some time now.
Even today, Bitcoin up 5% from the low yesterday, and guess what, TQQQ's up 5% as well.

Bitcoin, without question, is simply TQQQ exposure (sometimes it's 4-5x, no doubt!). Go ahead, open up a live tab of TQQQ and parallel it with Bitcoin. Down to the minute- nay, the second, you can see Bitcoin jump or dump along with this ETF.

>> No.54288481

it's gonna be fun watching everyone that moved to btc try to offramp all at once and see tx costs shoot up to 1k+
even when you win you lose

>> No.54288532

>>54288432
Zoom out you retard.
There is not much correlation this year.

>> No.54288567

>>54288532
Also your tqqq was massively higher while btc was 25k last year

>> No.54288631
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54288631

Don't care. Still buying Bitcoin.

>> No.54288801

>>54288532
BTC has been in a tight trading range versus TQQQ for the past two years.

>> No.54288889

>>54288532
Think of TQQQ as "Bitcoin" and Bitcoin itself as .. Dogecoin?
When TQQQ does well, Bitcoin does well. Maybe better. When TQQQ does poorly, Bitcoin does poorly. Sometimes much worse.
I'm not debating that if TQQQ is up 5% BTC is always up the same percentage and they trade together perfectly, but as I said in original post, while TQQQ is a 3xNDX Bitcoin is often a 5xNDX for better or for worse.

Point is if you think Bitcoin's going to moon because stocks are screwed, you aren't looking at the data correctly. If stocks slump, Bitcoin's gonna dump.

>> No.54289125
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54289125

>>54288432
At this phase of BTC's diminishing returns and how hopelessly awash crypto is with fraud and scams, I don't know why anyone doesn't just buy QQQ and at least earn dividends.

>> No.54289209

>>54288889
You realize all of the BTC bulls are Pajeets or slavs, right? You're wasting your time trying to convince literal retards of the TQQQ correlation, they won't accept it regardless of how obvious it is.

>> No.54289237

>>54288631
>how the fuck do I get down off this bagass tree?
>should have prepared for this bigass tree rather than the y2k event

>> No.54289304

>>54288432
>>54288889
bitcoin bitcoin bitcoin bitcoin
dude crypto isn't just 1 coin lol
grow up faglord
everything could be up 100%in a day, but if bitcoin goes down you're sounding the alarm and posting every shitpost you can

apologize for your thread or your mother dies a slow agonizing death in her sleep tonight'

>> No.54289732

>>54288889
>Think of TQQQ as "Bitcoin" and Bitcoin itself as .. Dogecoin?
>When TQQQ does well, Bitcoin does well. Maybe better. When TQQQ does poorly, Bitcoin does poorly. Sometimes much worse.
Looking at your chart it seems to be the other way around. TQQQ is the Doge.

>> No.54290410

>>54288432
well considering both are trading based on fed expectations for the past 1.5 years i am not too surprised
the real test of this correlation is when the halving happens and if btc is gonna have another expected bullrun which should even if in lockstep with the ndx still vastly overshoot it

>> No.54290589

>>54290410
>is when the halving happens
Totally. Until then.

>> No.54291659

>>54290589
ok then good stance
me i am not smart enough to trade this mess so i will hodl till then
imagine selling and then it doesnt come down