Max Keiser, prominent financial journalist and currently the advisor to El Salvador’s president on all things Bitcoin, has taken to social media platform X to oppose a popular narrative among traders and strategists that Bitcoin is routinely coupled with tech stocks.
Keiser has commented on a tweet that featured an excerpt from an interview with the CEO of the Ritholtz Wealth Management company Josh Brown, who stated that “over the last week or [two] it decoupled from the Nasdaq,” meaning Bitcoin.
Keiser, who is a vocal Bitcoin maximalist, reacted to that, stating that Bitcoin has always been following “its own vector”: “Bitcoin was never coupled with anything,” he said, adding his favorite refrain: “Everything goes to zero against Bitcoin.” He has recently resumed sharing his ultra-bullish prediction that Bitcoin is headed for $220,000.
One of the experts who has been vocal about Bitcoin’s correlation with the tech Nasdaq index has been the senior commodities strategist at Bloomberg Intelligence, Mike McGlone. He believes that Bitcoin is about to crash, similarly to the Nasdaq in 2000, when the dot-com bubble burst.
Meanwhile, the world’s largest cryptocurrency, Bitcoin, surged to top the $95,000 level today amid the recent development. One of those developments was the appointment of a pro-crypto SEC chairman Paul Atkins, a former SEC commissioner.
On April 22, he was sworn in at the SEC, and he promised to give top priority to establishing a fair and adequate regulatory framework for digital currencies.
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