Why is the cryptomarket exploding right now?

clemens · Jul 28, 2022

FED made their announcement ysterday, I understand.

But what let the BTC and ETH explode to new highest this month?

JohnnyDoe · Jul 28, 2022

It is not exploding. Cryptos are going to zero or below. rof/%

This is just another bull trap.
You should read all the older threads where FUDded people were panicking. You will also find very serious TA showing clear patterns of a perennial bear market.

369 · Jul 28, 2022

the same reason why stock and co are raising to trap people in for the next big cut which will be lower than the previous one.

FlipnShip · Jul 29, 2022

369 said:
the same reason why stock and co are raising to trap people in for the next big cut which will be lower than the previous one.

What happened to the 12-14 k fractal first?

menzu · Jul 29, 2022

Cryptos are following Bitcoin whenever it moves, I would recommend to stay away from tokens right now and stack some BTC, it's a good price to stack some for long term holding.

Golden Fleece · Jul 29, 2022

clemens said:
FED made their announcement ysterday, I understand.

But what let the BTC and ETH explode to new highest this month?

At this point, if you do not understand it then you never will. Stock and crypto are now correlated. Period.

clemens · Jul 29, 2022

Golden Fleece said:
At this point, if you do not understand it then you never will. Stock and crypto are now correlated. Period.

thank you. I get a picture of it after all.

Golden Fleece · Jul 29, 2022

clemens said:
thank you. I get a picture of it after all.

According to a chart posted by CNBC's Dominic Chu, Bitcoin's correlation with Invesco QQQ, a popular exchange-traded fund (ETF) that tracks the tech-heavy Nasdaq 100 Index, has reached a score of 0.894, the highest level in nearly three years. It is worth pointing out that a score of 1 would mean an exact correlation.

The fact that the flagship cryptocurrency is trading virtually just as another tech stock undermines the "inflation hedge" narrative that propped up the fledgling asset to new record highs last year. Instead of being treated like a legitimate store of value, Bitcoin is being treated as yet another speculative investment. This, of course, flies in the face of those who pitched the world's largest cryptocurrency as a revolutionary asset.