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