It took me so long to do Part One and Part Two of my “bad predictions” post, I was just going to call it a day until tomorrow, but I’m prone to self-guilt, so here I am again with a new, quick post (while simultaneously working on an entirely new project for my Diamond members).
As I’m sitting here this evening, the markets are (of course) pushing to new lifetime highs. Since cryptos have been on an absolute tear lately, I was curious how Bitcoin correlated with equities. Here, below, is the SPY with its correlation to $BTC beneath. As you can see, right now they’re about as correlated as they can be, with equities and cryptos cheerfully lurching up together. The curious thing is how the correlation is a relatively smooth sine wave, suggestion that these two are going to part ways again and work their way toward being inversely correlated.
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