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Opinion

Why Bitcoin Investors Aren’t Worried About This Price Pullback

Critiques of correlation between bitcoin and equities miss the fact that bitcoin adoption within traditional markets has been driven by a fiat collapse concern.

By Nathaniel Whittemore
AccessTimeIconSep 8, 2020 at 7:00 p.m. UTC
Updated Sep 14, 2021 at 9:53 a.m. UTC
AccessTimeIconSep 8, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 9:53 a.m. UTC
(Artis777/Getty Images)
(Artis777/Getty Images)
AccessTimeIconSep 8, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 9:53 a.m. UTC

Critiques of correlation between bitcoin and equities miss the fact that bitcoin adoption within traditional markets has been driven by a fiat collapse concern.

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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

  • Stock market continues its descent
  • Insider stock selling reached five-year high in August
  • President Trump promises more aggressive decoupling from China

Our main discussion: Investors and the BTC price dip.

Over the last several weeks, bitcoin has pulled back from $12,400 to around $10,000. This dip has happened alongside a broader retracement in equities, led by falling tech stocks. 

While some have levied correlation to equities as a failure of bitcoin, NLW argues this critique misunderstands the narrative that has driven accumulation from new holders over the last six months.

See also: The Case for $500,000 Bitcoin

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