It's Hot Girl Summer, For Bitcoin!
TL;DR
For the most part, when the stock market goes up or down, Bitcoin tends to follow.
If Bitcoin were to decouple from (break up with) the stock market, it'd be living its best life as an independent entity (i.e. It'd be hot girl summer, for Bitcoin).
Bitcoin has been built from the ground up to safeguard against inflation. Only 21 million BTC will ever be created (unlike cash which governments can print infinitely).
Although, over the past year, Bitcoin has dipped along with the rest of the market, as inflation fears grew (the opposite of its intended design).
That is, until recently. There's now evidence to suggest BTC and the stock market have broken up! Because over the past 90 days, the correlation between the two has broken.
Full Story
Holy hell.
Is it...is it really happening?
Has Bitcoin finally decoupled from the stock market?
It's been a minute since we covered this, so here's a re-cap of:
What this all means
Why it's a big deal
Here's what it means:
You know that feeling of excitement you get when a close friend breaks up with their dropkick douchebag of a boyfriend?
It's like a weight has been lifted from the shoulders of your social life.
Bitcoiner's get that same sense of excitement the moment there is any hint of Bitcoin decoupling from the stock market.
For the most part, when the stock market goes up or down, Bitcoin tends to follow. If Bitcoin were to decouple from (break up with) the stock market, it'd be living its best life as an independent entity.
(I.e. It'd be hot girl summer, for Bitcoin).
Here's why it's a big deal:
This 'break up' could make Bitcoin a true safe haven for protecting your savings.
Bitcoin has been built from the ground up to safeguard against inflation. Only 21 million BTC will ever be created (unlike cash which governments can print infinitely).
Although, over the past year, we haven't seen it react in real-time to inflation fears the way you might expect.
Bitcoin has instead dipped along with the rest of the market, as inflation fears grew (the opposite of its intended design).
...that is, until recently.
There's now evidence to suggest BTC and the stock market have broken up! Because over the past 90 days, the correlation between the two has broken.
Bitcoin has been doing whatever the hell it wants - regardless of the stock market's plans.
(Now we just need to wait and see if the break up sticks).