In this video I show my theory on what's probably happening with BTCUSD. It appears that Bitcoin is being used to hedge against the US Dollar crashing. $22,000 is certain in sight and who knows it could get to $30,000 sooner than anyone might imagine. I still think that BTC is too volatile for my liking and therefore I've stayed out. I've been happy to avoid...
**PLEASE FAST FORWARD TO .35sec MARK!** I wanted to give a quick lesson on correlation. Telegram: @RichDadBre
I'm throwing this up for discussion. The three key areas of the chart seem to show that a fall in the DXY is followed by sound recoveries in the S&P500. Be careful though, because I'm NOT saying that the weak DXY causes the S&P to rise like a phoenix. It's a community so I welcome different perspectives on this.
The reasoning behind this very important set of correlations!