Way back on February 2nd, I wrote a post called Follow Bitcoin which suggested that equities would slavishly follow the path of crypto, because crypto, Bitcoin in particular, is not only an important liquidity indicator but it also captures the overall zeitgeist and confidence of the assets market.
Having observed what has transpired this month, it seems this goofy notion is actually quite on the mark, particularly since my post, as the layered chart vividly illustrates below (QQQ in blue, BTC in black).
The $10,000 move in Bitcoin on Friday (!!!!!!!!) likewise lined up perfectly with the quadruple-point gain on the Dow as well as its historic crossing above the 50,000-point level. Thus, I am more confident than ever that anticipating crypto’s next moves are an important tool in anticipating what’s going to happen with equities. So, what’s next then? Read on!
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