BITCOIN Back in Lockstep with Tech Stocks: Crypto Bull Run Ahead?๐๐
The 30-day correlation between Bitcoin and the Nasdaq 100 is nearing 2023 highs! This means if the tech-heavy index keeps climbing, #Bitcoin could follow suit.
Why the Change?
There are a few theories. One is that investors are viewing $BTC more like a growth asset again, similar to tech stocks. Another is speculation of a Federal Reserve rate cut later this year, which could boost riskier investments like both tech and #crypto .
What Does This Mean for You?
Potentially good news for Bitcoin bulls! But remember, correlation isn't causation. #BTC is still volatile, and the future is uncertain.
